Vt. Stat. Ann. tit. 8, § 14401
Types of trust functions
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) With the prior approval of its governing board, a financial institution may act alone or with others as: fiduciary;
(1) With the prior approval of its governing board, a financial institution may act alone or with others as: fiduciary;
(2) custodian of property;
(2) custodian of property;
(3) agent or attorney in fact;
(3) agent or attorney in fact;
(4) registrar or transfer agent of securities;
(4) registrar or transfer agent of securities;
(5) trustees under corporate mortgages, trust deeds or similar indentures; or
(5) trustees under corporate mortgages, trust deeds or similar indentures; or
(6) fiscal agent of the United States, a political subdivision thereof, a body politic, a corporation, or an individual.
(6) fiscal agent of the United States, a political subdivision thereof, a body politic, a corporation, or an individual.
(7) With that approval, a financial institution may also be appointed and act as executor or coexecutor of a will, codicil, or writing testamentary, as administrator or co-administrator with the will annexed, as administrator or co-administrator of a person deceased, as receiver, assignee, trustee, alone or with others, or as guardian or co-guardian of a person subject to guardianship, and with that approval may relinquish the fiduciary office, under the same circumstances, in the same manner and subject to the same control by a court having jurisdiction, as a natural person legally qualified. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.
(7) With that approval, a financial institution may also be appointed and act as executor or coexecutor of a will, codicil, or writing testamentary, as administrator or co-administrator with the will annexed, as administrator or co-administrator of a person deceased, as receiver, assignee, trustee, alone or with others, or as guardian or co-guardian of a person subject to guardianship, and with that approval may relinquish the fiduciary office, under the same circumstances, in the same manner and subject to the same control by a court having jurisdiction, as a natural person legally qualified.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.