27 V.S.A. § 1543: Expenses and service charges of administrator

Before making a deposit of funds received under this chapter to the General Fund, the Administrator may deduct:

(1) expenses of disposition of property delivered to the Administrator under this chapter;

(2) costs of mailing and publication in connection with property delivered to the Administrator under this chapter;

(3) reasonable service charges;

(4) expenses incurred in examining records of or collecting property from a putative holder or holder; and

(5) property valued at $150.00 or less more than 10 years after the abandoned property was received from the holder under subchapter 6 of this chapter.

(A) The Administrator shall deposit funds deducted under this subdivision (5) into the Vermont Retirement Security Fund created by 3 V.S.A. § 534 up to a maximum annual total of $300,000.00.

(B) Notwithstanding subdivision (A) of this subdivision (5), in the Administrator’s sole discretion, funds deducted under this subdivision (5) may be deposited into the Vermont Higher Education Endowment Trust Fund created by 16 V.S.A. § 2885, provided that not more than a combined total of $300,000.00 shall be deposited into the Funds in a given year.

(C) For purposes of this subdivision (5), the value of the abandoned property shall be that value as of the date the property was received from the holder by the Administrator.

(5) property valued at $150.00 or less more than 10 years after the abandoned property was received from the holder under subchapter 6 of this chapter.

(A) The Administrator shall deposit funds deducted under this subdivision (5) into the Vermont Higher Education Endowment Trust Fund created by 16 V.S.A. § 2885 up to a maximum annual total of $300,000.00.

(B) [Repealed.]

(C) For purposes of this subdivision (5), the value of the abandoned property shall be that value as of the date the property was received from the holder by the Administrator.