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Terms Used In Vermont Statutes Title 8 Sec. 32210

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See

§ 32210. Lien; setoff

The credit union shall have a lien on the shares, share certificates, deposits, deposit certificates, and accumulated dividends or interest of a member in an individual or joint account for any sum past due the credit union from said member or for any loan endorsed by such member. The credit union shall also have a right of immediate setoff with respect to every such account. (Added 2005, No. 16, § 1, eff. July 1, 2005.)