Vermont Statutes Title 8 Sec. 7100
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Terms Used In Vermont Statutes Title 8 Sec. 7100
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Foreign country: means any other jurisdiction not in any state. See
- Receiver: means receiver, liquidator, rehabilitator, or conservator as the context requires. See
- State: means any state, district, or territory of the United States and the Panama Canal Zone. See
- Transfer: shall include the sale and every other and different mode, direct or indirect, of disposing of or of parting with property or with an interest therein, or with the possession thereof or of fixing a lien upon property or upon an interest therein, absolutely or conditionally, voluntarily, by or without judicial proceedings. See
§ 7100. Subordination of claims for noncooperation
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this State any assets within his or her control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under subdivision 7081(9) of this title. (Added 1991, No. 45, § 2, eff. May 29, 1991; amended 2001, No. 71, § 15, eff. June 16, 2001.)