Vermont Statutes Title 27 Sec. 1494
Terms Used In Vermont Statutes Title 27 Sec. 1494
- Administrator: means the Vermont State Treasurer. See
- Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See
- Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner, property subject to this chapter. See
- Property: means tangible property described in section 1465 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. See
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U. See
§ 1494. Retention of records by holder
A holder required to file a report under section 1491 of this title shall retain records for 10 years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the Administrator. The holder may satisfy the requirement to retain records under this section through an agent. The records must contain:
(1) the information required to be included in the report;
(2) the date, place, and nature of the circumstances that gave rise to the property right;
(3) the amount or value of the property;
(4) the last address of the apparent owner, if known to the holder; and
(5) if the holder sells, issues, or provides to others for sale or issue in this State traveler’s checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue. (Added 2019, No. 93 (Adj. Sess.), § 2, eff. Jan. 1, 2021.)