§204. Duty of settlement agent that is not a lender

Link to law: http://legislature.vermont.gov/statutes/section/09/004/00204
Published: 2015

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The Vermont Statutes Online



Title

09

:
Commerce and Trade






Chapter

004

:
INTEREST






Subchapter

003
:
FUNDED SETTLEMENTS










 

§

204. Duty of settlement agent that is not a lender

A settlement

agent that has received the loan funds from the lender shall cause disbursement

of settlement proceeds at the loan closing, or, for any other loan where a

right of rescission applies, the settlement agent shall cause disbursement of

the settlement proceeds on the first business day after the expiration of the

rescission period. (Added 2001, No. 55, § 2.)
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