§101. Borrower's notice

Link to law: http://legislature.vermont.gov/statutes/section/09/004/00101
Published: 2015

Print

The Vermont Statutes Online



Title

09

:
Commerce and Trade






Chapter

004

:
INTEREST






Subchapter

002
:
DISCLOSURE










 

§

101. Borrower's notice

A demand note

shall contain on its face the following notice in a size equal to at least 10

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.)
Read Entire Law on legislature.vermont.gov