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NO. 12. AN ACT RELATING TO UNCLAIMED PROPERTY.

(H.269)

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1. 27 V.S.A. 1239 is added to read:

1239. UNCLAIMED PROPERTY; DECEASED OWNER

If the state treasurer holds unclaimed property valued at less than $500.00 in the name of a deceased owner, the treasurer may deliver the property as follows:

(1) In the case of an open estate, to the administrator or executor.

(2) In the case of a closed estate, in accordance with the probate court decree of distribution.

(3) In the absence of an open estate or probate court decree of distribution, to the surviving spouse of the deceased owner, or, if there is no surviving spouse, then to the next of kin according to 14 V.S.A. 551.

Approved: April 30, 2001