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The Vermont Statutes Online
Title
09
:
Commerce and Trade
Chapter
060
:
AGRICULTURAL FINANCE LEASES
§
2386. Option to accelerate at will
Any term of an
agricultural finance lease providing that a party or a successor in interest
may accelerate payment or performance, or require collateral or additional
collateral "at will" or "when he or she deems himself or herself
insecure," or in words of similar import, shall be construed to mean that
the party may do so only if he or she in good faith believes that the prospect
of payment or performance is impaired. The burden of establishing good faith shall
be on the party who exercised the power. (Added 1989, No. 284 (Adj. Sess.), §
1; amended 2011, No. 136 (Adj. Sess.), § 1, eff. May 18, 2012.)