The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
TRUST POWERS
(Cite as: 8 V.S.A. § 14409)
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§ 14409. Disposition of securities upon court order; liability for acts of nominee
Any fiduciary financial institution may dispose of any security under an order or
decree of any court of competent jurisdiction by delivery of the security endorsed
by the nominee as provided in section 14408 of this title in the case of sales. Any fiduciary financial institution shall be absolutely liable
for any loss occasioned by the acts of the nominee or the financial institution with
respect to any securities registered in the nominee’s name. Both legal and equitable
ownership of all securities in the financial nominee’s possession or subject to the
financial nominee’s control shall be fully revealed by the financial institution’s
records. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)