11B V.S.A. § 14.40: Deposit with State Treasurer
Where this section sits in the code
- Title 11B: Nonprofit Corporations
- Chapter 014: Dissolution
- Subchapter 004: MISCELLANEOUS
Assets of a dissolved corporation that should be transferred to a creditor, claimant, or member of the corporation who cannot be found or who is not competent to receive them shall be reduced to cash subject to known trust restrictions and deposited with the State Treasurer for safekeeping; provided, however, that in the State Treasurer’s discretion property may be received and held in kind. When the creditor, claimant, or member furnishes satisfactory proof of entitlement to the amount deposited or property held in kind, the State Treasurer shall deliver to the creditor, member, or other person or his or her representative that amount or property.
Collected 2026-09-05T16:18:27Z. Source file · JSON