Vermont § 5308 Custodian of funds; bond

Vermont Statutes

§ 5308 — Custodian of funds; bond

Vermont § 5308

Title 18Title 18: Health

Ch. 121Chapter 121: Cemeteries

This text of Vermont § 5308 (Custodian of funds; bond) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 18, § 5308 (2026).

Text

When such funds are not deposited with a bank chartered by the State or a national bank, the custodian or depositary thereof, unless otherwise directed by the terms of the trust or other provisions of this chapter, shall be the treasurer of the agency owning, operating, or controlling the cemetery in which lots or burial spaces are sold, or in which mausoleums or columbariums are located, who shall furnish and file with such agency, at its expense, a good and sufficient bond or bonds with surety or sureties approved by the Probate Division of the Superior Court, indemnifying and securing such agency against loss occasioned by the failure of the treasurer to properly protect, preserve, and administer such funds under the treasurer’s control. Such funds shall be invested and the income from 

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When such funds are not deposited with a bank chartered by the State or a national bank, the custodian or depositary thereof, unless otherwise directed by the terms of the trust or other provisions of this chapter, shall be the treasurer of the agency owning, operating, or controlling the cemetery in which lots or burial spaces are sold, or in which mausoleums or columbariums are located, who shall furnish and file with such agency, at its expense, a good and sufficient bond or bonds with surety or sureties approved by the Probate Division of the Superior Court, indemnifying and securing such agency against loss occasioned by the failure of the treasurer to properly protect, preserve, and administer such funds under the treasurer’s control. Such funds shall be invested and the income from the funds expended upon the written orders of the directors or trustees of such agency. (Amended 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011; 2023, No. 6, § 169, eff. July 1, 2023.)