Vt. Stat. Ann. tit. 14A, § 1105
Fiduciary’s liability for action or inaction of trustee, trust advisor, and trust protector
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
An excluded fiduciary is not liable for:
An excluded fiduciary is not liable for:
(1) any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector; or
(1) any loss resulting from any action or inaction of a trustee, trust advisor, or trust protector; or
(2) any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector, provided that an excluded fiduciary who had a duty to propose such action timely sought but failed to obtain the authorization. Added 2009, No. 20, § 1.
(2) any loss that results from the failure of a trustee, trust advisor, or trust protector to take any action proposed by the excluded fiduciary where such action requires the authorization of the trustee, trust advisor, or trust protector, provided that an excluded fiduciary who had a duty to propose such action timely sought but failed to obtain the authorization.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.