Vermont Statutes Title 18 Sec. 5308
Terms Used In Vermont Statutes Title 18 Sec. 5308
- Cemetery: means any plot of ground used or intended to be used for the burial or permanent disposition of the remains of the human dead in a grave, a mausoleum, a columbarium, a vault, or other receptacle. See
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Probate: Proving a will
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 5308. Custodian of funds; bond
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.)