Vt. Stat. Ann. tit. 23, § 3012

Any surety on a bond furnished by a licensee shall be discharged from any liability to the State accruing on the bond after expiration of 60 days from the date the surety filed by mail with the Commissioner a written request to be released and discharged, but the surety shall not be released or discharged from liability already accrued or that shall accrue before the expiration of the 60-day period. The Commissioner, upon receipt of such a request, shall promptly notify by mail the licensee who furnished the bond. Unless the licensee, prior to the expiration of the 60-day period, files a new bond satisfactory to the Commissioner, the Commissioner shall revoke his or her license.