The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 8 : Banking and Insurance
Chapter 209 : Conservation, Liquidation, and Insolvency
Subchapter 002 : FINANCIAL INSTITUTION CONSERVATORS
(Cite as: 8 V.S.A. § 19205)-
§ 19205. Fiduciary powers; appointment of new trustee for trust accounts
The conservator shall have the right to exercise all the fiduciary powers that the Vermont financial institution had been exercising. However, if all of the beneficiaries, named in any trust that the financial institution for which the conservator is appointed was trustee, desire another trustee appointed to administer and manage the trust, the Probate Division may appoint a new trustee for the trust. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
