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Vermont Statutes Title 12. Court Procedure, § 3022. Assignment of future earnings; validity as against trustee process; recording

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Vermont Statutes Title 12. Court Procedure, § 3022. Assignment of future earnings; validity as against trustee process; recording - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-12-court-procedure/vt-st-tit-12-sect-3022/

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