Vermont § 104 - Knowledge

§ 104. Knowledge

• (a) Subject to subsection (b) of this section, a person has knowledge of a fact if the
  person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question,
  has reason to know it. (b) An organization that conducts activities through employees has notice or knowledge
  of a fact involving a trust only from the time the information was received by an
  employee having responsibility to act for the trust, or would have been brought to
  the employee’s attention if the organization had exercised reasonable diligence. An
  organization exercises reasonable diligence if it maintains reasonable routines for
  communicating significant information to the employee having responsibility to act
  for the trust and there is reasonable compliance with the routines. Reasonable diligence
  does not require an employee of the organization to communicate information unless
  the communication is part of the individual’s regular duties or the individual knows
  a matter involving the trust would be materially affected by the information. (Added 2009, No. 20, § 1.)