Skip to navigation Skip to content Skip to subnav
Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 204 : POWERS OF FINANCIAL INSTITUTIONS

Subchapter 002 : Deposits in General

(Cite as: 8 V.S.A. § 14203)
  • § 14203. Trust deposits; payment on death of trustee

    When a deposit is made in a financial institution by one or more persons in trust for another, the name and residence of the person for whom the deposit is made shall be disclosed, and the deposit shall be credited to the depositor or depositors as trustee for such person. When other notice of the existence and terms of a legal trust is not given in writing to the financial institution, at the death of the trustee, or if there is more than one trustee, at the death of the surviving trustee, the deposit or any part thereof, with the interest thereon, may be paid to the person for whom the deposit was made or to his or her estate. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)