Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust and with the requirements of this chapter.
Vt. Stat. Ann. tit. 14A, § 904
Duties at inception of trusteeship
Known as the Vermont Trust Code
The act spans §§ 14–14 (107 sections).
Added 2009, No. 20, § 1.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.