{"data":{"id":"us-vt/8-v.s.a.-14401","jurisdiction":"us-vt","citation":"8 V.S.A. § 14401","heading":"Types of trust functions","body":"(a) With the prior approval of its governing board, a financial institution may act alone or with others as:\n(1) fiduciary;\n(2) custodian of property;\n(3) agent or attorney in fact;\n(4) registrar or transfer agent of securities;\n(5) trustees under corporate mortgages, trust deeds or similar indentures; or\n(6) fiscal agent of the United States, a political subdivision thereof, a body politic, a corporation, or an individual.\n(b) With that approval, a financial institution may also be appointed and act as executor or coexecutor of a will, codicil, or writing testamentary, as administrator or co-administrator with the will annexed, as administrator or co-administrator of a person deceased, as receiver, assignee, trustee, alone or with others, or as guardian or co-guardian of a person subject to guardianship, and with that approval may relinquish the fiduciary office, under the same circumstances, in the same manner and subject to the same control by a court having jurisdiction, as a natural person legally qualified.","path":["Title 8: Banking and Insurance","Chapter 204: Powers of Financial Institutions","Subchapter 004: TRUST POWERS"],"source_url":"https://legislature.vermont.gov/statutes/section/08/204/14401","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T14:05:21Z","sha256":"16e32091a5f5e113653c177fc1b85f7bad8fa65969e66261388bb711f73da941","source_id":"us-vt","stale":false,"prev":"us-vt/8-v.s.a.-14304","next":"us-vt/8-v.s.a.-14402"},"notice":"GroundRules: Original legal text. Not legal advice."}