On June 8, 2017 Gov. Phil Scott (R-VT) signed into law S.B. 136 (2017) which “adopts miscellaneous consumer protection provisions relating to residential construction contracts, escrow account analyses, and fantasy sports contests” (see http://legislature.vermont.gov/bill/status/2018/S.136). Among other changes, it amends Vt. Stat. Ann. tit. 8, § 10404 to allow a lender to collect a 2 months’ (1/6th of a year) cushion for escrow accounts; a change from the 1 month (1/12th of a year) cushion currently allowed.
We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (http://blog.docutechcorp.com/category/document-updates).