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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If the Administrator sells a security before the expiration of six years after delivery of the security to the Administrator, an apparent owner that files a valid claim under this chapter of ownership of the security before the six-year period expires is entitled, at the option of the Administrator, to receive:
(1) replacement of the security; or
(2) the market value of the security at the time the claim is filed, plus dividends, interest, and other increments on the security up to the time the claim is paid.
(b) Replacement of the security or calculation of market value under subsection (a) must take into account a stock split, reverse stock split, stock dividend, or similar corporate action.
(c) A person that makes a valid claim under this chapter of ownership of a security after expiration of six years after delivery of the security to the Administrator is entitled to receive:
(1) the security the holder delivered to the Administrator, if it is in the custody of the Administrator, plus dividends, interest, and other increments on the security up to the time the Administrator delivers the security to the person; or
(2) the net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security was sold.
Cite this article: FindLaw.com - Vermont Statutes Title 27. Property, § 1533. Recovery of securities or value by owner - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-27-property/vt-st-tit-27-sect-1533/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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