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Terms Used In Vermont Statutes Title 14 Sec. 1007

  • Trustee: A person or institution holding and administering property in trust.

§ 1007. Event affecting administration or distribution

If the happening of an event, including marriage, divorce, performance of educational requirements, attainment of a specified age, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee’s lack of knowledge. (Added 2009, No. 20, § 1.)