Vermont Statutes Title 12 Sec. 3014
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Terms Used In Vermont Statutes Title 12 Sec. 3014
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
- Trustee: A person or institution holding and administering property in trust.
§ 3014. Maker or indorser of negotiable paper; exemptions
Negotiable paper may be attached by and the same shall be subject to the operation of the trustee process, unless the same had been negotiated and notice thereof given to the maker or indorser before the service of the trustee process on him or her. Negotiable paper, actually assigned, negotiated, and transferred, before it becomes due, to a bank, savings bank, savings institution, trust company, or insurance company, in the State, shall be exempt from attachment by trustee process.