2014 Vermont Statutes
Title 8 - Banking and Insurance
Chapter 77 - INDEPENDENT TRUST COMPANIES
§ 2408 Laws applicable; matters of contract
§ 2408. Laws applicable; matters of contract
(a) An independent trust company exercising trust powers under this chapter shall be subject to the same responsibilities, liabilities and penalties as an individual acting in like capacity, and the company shall have the same powers and shall receive the same compensation as individuals acting in like capacity, if fixed by law.
(b) The exercise of powers not listed in subsection (a) of this section, and the performance of the other duties by the company may be as contracted for by the parties interested.
(c) In performing its duties under a trust, an independent trust company shall be subject to all applicable provisions of chapter 105 of Title 14. (Added 1997, No. 98 (Adj. Sess.), § 8b.)
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