Treasurer

V.S.A. tit. 32, ch. 3, subch. 1

in effect

32 V.S.A. § 101 Communications to Governor and Assembly

101. Communications to Governor and Assembly The Treasurer shall prepare an annual financial report and shall submit to the Governor and either house of the General Assembly: abstracts; copies of accounts or official documents of any kind; and information relating to revenue, official transactions, and the Department of the Treasury. Amended 1965, No. 158, § 2; 1971, No. 13, § 1, eff. Feb. 25, 1971; 2017, No. 74, § 131.

32 V.S.A. § 102 Embezzlements

102. Embezzlements If the Treasurer diverts, misapplies, or conceals the public treasure, he or she shall be fined double the amount so diverted, misapplied, or concealed and shall be imprisoned not more than 10 years nor less than two years.

32 V.S.A. § 103 Account with successor

103. Account with successor If the Treasurer goes out of office, the Treasurer shall exhibit to the Treasurer’s successor a true and particular account of the money received and paid out since the last examination of the Treasurer’s books and accounts as provided in section 801 of this title, and, within 10 days after the Treasurer’s successor is declared elected or is appointed, with the successor and the Auditor, the Treasurer shall adjust and strike the balance found against the Treasurer within such time as is prescribed by the Auditor, or be liable for that balance to the State in a civil action. Amended 2021, No. 105 (Adj. Sess.), § 437, eff. July 1, 2022.

32 V.S.A. § 104 Balance due retiring Treasurer

104. Balance due retiring Treasurer Upon such adjustment, if it appears that a balance is due to the retiring Treasurer, it shall be reported to the General Assembly and discharged as it directs.

32 V.S.A. § 105 Settlement upon death of Treasurer

105. Settlement upon death of Treasurer If a person dies while holding such office, the settlement provided for in sections 103 and 104 of this title shall be made with his or her executor or administrator.

32 V.S.A. § 106 Penalty for refusal to settle

106. Penalty for refusal to settle After demand made by the Auditor, if such retiring Treasurer refuses to exhibit and settle his or her account, he or she shall be fined $2,000.00 for each month’s refusal.

32 V.S.A. § 107 Books and records delivered to successor

107. Books and records delivered to successor At the time of adjusting his or her account or within 10 days after his or her term of office expires, such retiring Treasurer shall deliver to his or her successor the books of account, memorandum or registry, the bonds, bills, notes, obligations, contracts, securities, and other instruments or papers belonging to the State Treasury and, for each month’s default thereof, shall be fined $2,000.00.

32 V.S.A. § 108 Repealed. 1999, No. 71 (Adj. Sess.), § 1.

32 V.S.A. § 109 Solicitations and contributions prohibited

109. Solicitations and contributions prohibited (a) As used in this section: (1) “Firm” means any person or entity that provides investment services and includes the owner of the firm, excluding those shareholders owning less than one percent holdings in the firm’s outstanding shares, and all managers, officers, directors, partners, or employees who have managerial or discretionary responsibility to invest funds, manage funds, or provide investment services. (2) “Investment services” means legal services, investment banking services, investment advisory services, underwriting services, financial advisory services, or brokerage firm services for brokerage, underwriting, and financial advisory activities that are within the statutory purview of the Treasurer. (3) “Treasurer” means the Treasurer of the State of Vermont. (b) A firm that currently has a contract with the State Treasurer or a political committee established by that firm shall not make a contribution to, or solicit contributions on behalf of, a candidate for the Office of Treasurer. A violation of this subsection shall be considered a material breach and a default by the firm of any contract issued to it by the Treasurer. Upon the occurrence of such a material breach and default, the Treasurer shall notify the firm of the State’s intention to terminate the firm’s contract. The Treasurer shall forthwith seek to reissue the contract to another person or entity in accordance with existing law and procedures. This subsection shall not preclude the payment of compensation, expenses or fees to a firm that has violated this subsection regarding work performed or expenses incurred prior to the date the contract is terminated. (c) The Treasurer shall not enter into any contract with any firm if the firm or a political committee established by that firm has made a contribution or solicited contributions on behalf of a candidate for the Office of Treasurer after July 1, 1997 and within five years of the date of the contract. Added 1997, No. 64, § 26.

32 V.S.A. § 110 Reports

110. Reports (a) The Treasurer shall prepare and submit, consistent with 2 V.S.A. § 20(a), reports on the following subjects: (1) The Vermont Higher Education Endowment Trust Fund, pursuant to 16 V.S.A. § 2885(e). (2) [Repealed.] (3) The Trust Investment Account, pursuant to subdivision 434(a)(5) of this title. (4), (5) [Repealed.] (b) Reports required to be submitted to the General Assembly annually by January 15 shall be consolidated in a single document. Added 2003, No. 122 (Adj. Sess.), § 294b; amended 2009, No. 33, § 83(m)(1); 2011, No. 139 (Adj. Sess.), § 31, eff. May 14, 2012.

32 V.S.A. § 111 Financial Literacy and Economic Empowerment Trust Fund

111. Financial Literacy and Economic Empowerment Trust Fund (a) There is hereby established a special fund entitled the Financial Literacy and Economic Empowerment Trust Fund to be administered by the State Treasurer. The purposes of the Fund are: (1) to promote the adoption of fiscally sound money management practices by Vermonters through education and outreach efforts that raise awareness of the need for and benefits of practicing such skills; (2) to create opportunities to build and encourage the development of new financial literacy activities and educational products for Vermonters; and (3) to support other economic empowerment opportunities for Vermonters. (b) The Fund may receive State transfers, gifts, grants, federal funds, and any other funds, both public and private, consistent with this section. Monies in the Fund may be expended in accordance with the trust fund provisions of section 462 of this title for such financial literacy projects as the Treasurer may direct and to defray costs associated with administering the Vermont Prescription Drug Discount Card Program established pursuant to 18 V.S.A. chapter 91, subchapter 7. (c) The Treasurer may invest monies in the Fund in accordance with the provisions of section 434 of this title. All balances in the Fund at the end of the fiscal year shall be carried forward and shall not revert to the General Fund. Interest earned shall remain in the Fund. The Treasurer’s annual financial report to the Governor and the General Assembly shall contain an accounting of receipts, disbursements, and earnings of the Fund. Added 2007, No. 192 (Adj. Sess.), § 6.009; amended 2025, No. 132 (Adj. Sess.), § 3a, eff. July 1, 2026.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/32/003Fetched: 10/21/2026