Vermont Statutes Title 9 Sec. 3-102
Terms Used In Vermont Statutes Title 9 Sec. 3-102
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- 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
- Statute: A law passed by a legislature.
§ 3—102. Subject matter
(a) This article applies to negotiable instruments. It does not apply to money, to payment orders governed by Article 4A of this title, or to securities governed by Article 8 of this title.
(b) If there is conflict between this article and Article 4 or 9 of this title, Articles 4 and 9 govern.
(c) Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this article to the extent of the inconsistency.
(d) A negotiable instrument, although subject to this article, is also subject to the consumer protection statutes of this State, or any final consumer protection decision of a court of this State existing on the effective date of this article. In case of a conflict between this article and a consumer protection statute or decision of a court of this State, the statute or decision controls. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)