The Vermont Statutes Online

Title 9: Commerce and Trade

Chapter 4: INTEREST

Sub-Chapter 2: Disclosure

9 V.S.A. § 101. Borrower's notice



§ 101. Borrower's notice

A demand note shall contain on its face the following notice in a size equal to at least ten point bold type:

NOTICE TO BORROWER: THIS IS A DEMAND NOTE AND SO MAY BE COLLECTED BY THE LENDER AT ANY TIME. A NEW NOTE MUTUALLY AGREED UPON AND SUBSEQUENTLY ISSUED MAY CARRY A HIGHER OR LOWER RATE OF INTEREST. (Added 1975, No. 106, § 3.)