Borrower’s notice
Applied in 2 court decisions — leading case In Re Housecraft Industries, USA, Inc. (1993)
Most recently applied in In Re Housecraft Industries, USA, Inc. (May 1993)
Added 1975, No. 106, § 3.
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.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.