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.
(Cite as: 14A V.S.A. § 1012)
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§ 1012. Protection of person dealing with trustee
(a) A person other than a beneficiary who in good faith assists a trustee or who in good
faith and for value deals with a trustee without knowledge that the trustee is exceeding
or improperly exercising the trustee’s powers is protected from liability as if the
trustee properly exercised the power.
(b) A person other than a beneficiary who in good faith deals with a trustee is not required
to inquire into the extent of the trustee’s powers or the propriety of their exercise.
(c) A person who in good faith delivers assets to a trustee need not ensure their proper
application.
(d) A person other than a beneficiary who in good faith assists a former trustee or who
in good faith and for value deals with a former trustee without knowledge that the
trusteeship has terminated is protected from liability as if the former trustee were
still a trustee.
(e) Comparable protective provisions of other laws relating to commercial transactions
or transfer of securities by fiduciaries prevail over the protection provided by this
section. (Added 2009, No. 20, § 1.)