Vt. Stat. Ann. tit. 14A, § 702
Trustee’s bond
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) A trustee shall give bond to secure performance of the trustee's duties only if the Probate Division of the Superior Court finds that a bond is required by the terms of the trust and the Probate Division of the Superior Court has not dispensed with the requirement, or the Probate Division of the Superior Court finds by clear and convincing evidence that a bond is needed to protect the interests of the beneficiaries.
(1) A trustee shall give bond to secure performance of the trustee’s duties only if the Probate Division of the Superior Court finds that a bond is required by the terms of the trust and the Probate Division of the Superior Court has not dispensed with the requirement, or the Probate Division of the Superior Court finds by clear and convincing evidence that a bond is needed to protect the interests of the beneficiaries.
(2) The Probate Division of the Superior Court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The Probate Division of the Superior Court may modify or terminate a bond at any time. Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.
(2) The Probate Division of the Superior Court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The Probate Division of the Superior Court may modify or terminate a bond at any time.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.