Vermont Statutes Title 12 Sec. 3022
Terms Used In Vermont Statutes Title 12 Sec. 3022
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
- Trustee: A person or institution holding and administering property in trust.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
§ 3022. Assignment of future earnings; validity as against trustee process; recording
An assignment of future earnings shall not be valid against trustee process unless executed in writing and made to secure a debt of an amount therein stated, contracted prior to or simultaneously with the execution of the assignment, or a debt for necessaries to be thereafter furnished to the debtor to the amount therein stated. The assignment shall not be valid as to the trustee process unless it is recorded, before the service of the writ upon the alleged trustee, as follows:
(1) In the office of the clerk of the town wherein the assignor resides, if he or she is a resident of this State, otherwise in the office of the clerk of the town wherein the employer of such assignor resides; or
(2) In the office of the clerk of the town wherein the principal place of business of such employer is located, if such assignor is a nonresident and his or her employer is a resident corporation, partnership, or association; or
(3) In the office of the Secretary of State, if the assignor is a nonresident and his or her employer is a nonresident individual, corporation, partnership, or association, authorized to do business in this State.