Vermont § 1308 Duty and liability of trust director

Vermont Statutes

§ 1308 — Duty and liability of trust director

Vermont § 1308

Title 14ATitle 14A: Trusts

Ch. 13Chapter 013: Uniform Directed Trust Act

This text of Vermont § 1308 (Duty and liability of trust director) 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. 14A, § 1308 (2026).

Text

(a)Subject to subsection (b) of this section, with respect to a power of direction or further power under subdivision 1306(b)(1) of this title:

(1)a trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:

(A)if the power is held individually, as a sole trustee in a like position and under similar circumstances; or

(B)if the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and

(2)the terms of the trust may vary the director’s duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.

(b)Unless the terms of a trust provide otherwise, if a trust director is licens

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Subject to subsection (b) of this section, with respect to a power of direction or further power under subdivision 1306(b)(1) of this title:
(1) a trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:
(A) if the power is held individually, as a sole trustee in a like position and under similar circumstances; or
(B) if the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and
(2) the terms of the trust may vary the director’s duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.
(b) Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise authorized or permitted by law other than this chapter to provide health care in the ordinary course of the director’s business or practice of a profession, to the extent the director acts in that capacity, the director has no duty or liability under this chapter.
(c) The terms of a trust may impose a duty or liability on a trust director in addition to the duties and liabilities under this section. (Added 2023, No. 104 (Adj. Sess.), § 1, eff. May 13, 2024.)