Vermont § 2401 Definitions

Vermont Statutes

§ 2401 — Definitions

Vermont § 2401

Title 8Title 8: Banking and Insurance

Ch. 77Chapter 077: Independent Trust Companies

This text of Vermont § 2401 (Definitions) 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. 8, § 2401 (2026).

Text

As used in this chapter:

(1)“Act as fiduciary” or “acting as a fiduciary” means to:

(A)accept or execute trusts, including to:

(i)act as trustee under a written agreement;

(ii)receive money or other property in its capacity as trustee for investment in real or personal property;

(iii)act as trustee and perform the fiduciary duties committed or transferred to it by order of a court of competent jurisdiction;

(iv)act as trustee of the estate of a deceased person; or

(v)act as trustee for a minor or incapacitated person;

(B)administer in any other fiduciary capacity real or tangible personal property; or

(C)act pursuant to order of a court of competent jurisdiction as executor or administrator of the estate of a deceased person or as a guardian or conservator for a minor or incapacit

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As used in this chapter:
(1) “Act as fiduciary” or “acting as a fiduciary” means to:
(A) accept or execute trusts, including to:
(i) act as trustee under a written agreement;
(ii) receive money or other property in its capacity as trustee for investment in real or personal property;
(iii) act as trustee and perform the fiduciary duties committed or transferred to it by order of a court of competent jurisdiction;
(iv) act as trustee of the estate of a deceased person; or
(v) act as trustee for a minor or incapacitated person;
(B) administer in any other fiduciary capacity real or tangible personal property; or
(C) act pursuant to order of a court of competent jurisdiction as executor or administrator of the estate of a deceased person or as a guardian or conservator for a minor or incapacitated person.
(2) “Company” means corporation or limited liability company.
(3) “Independent trust company” means a company formed in this or any other state, that is chartered to act as a fiduciary or engages in a trust business, but is neither a depository institution nor a foreign bank as defined in Section 1(b)(7) of the International Banking Act of 1978.
(4) “Trust business” means the holding out by a person to the public by advertising, solicitation, or other means that the person is available to act as a fiduciary in this or another state for hire or compensation. (Added 1997, No. 98 (Adj. Sess.), § 8b.)