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. § 14410)
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§ 14410. Fiduciary investments
(a) In the absence of an express prohibition in the instrument, judgment, decree, power,
order, or other writing creating a trust or other fiduciary relationship, a financial
institution acting as fiduciary may invest and reinvest funds held by it in a fiduciary
capacity in the securities of an open-end or closed-end investment company or investment
trust registered under 15 U.S.C. § 80a-1 to 80a-64 (Investment Company Act of 1940), as that act exists now or as amended in the future.
(b) The investments authorized in subsection (a) of this section may be made even if the
financial institution, or an affiliate thereof, is providing services to the investment
company and is receiving reasonable compensation for such services as an advisor,
manager, sponsor, administrator, broker, distributor, custodian, shareholder servicing
agent, transfer agent, registrar, or any related services. At least annually, the
financial institution shall disclose in a clear and conspicuous manner to the principal
of each fiduciary account the fees it has charged or received from the investment
company, or an affiliate thereof, for such services and the basis upon which compensation
is calculated, expressed either in a specific amount or as a percentage of asset value. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)