Vermont § 1308 - Duty and liability of trust director

§ 1308. Duty and liability of trust director

• (a) Subject to subsection (b) of this section, with respect to a power of direction or
  further power under subdivision 1306(b)(1) of this title: (1) a trust director has the same fiduciary duty and liability in the exercise or nonexercise
  of the power: (A) if the power is held individually, as a sole trustee in a like position and under
  similar circumstances; or (B) if the power is held jointly with a trustee or another trust director, as a cotrustee
  in a like position and under similar circumstances; and (2) the terms of the trust may vary the director’s duty or liability to the same extent
  the terms of the trust could vary the duty or liability of a trustee in a like position
  and under similar circumstances. (b) Unless the terms of a trust provide otherwise, if a trust director is licensed, certified,
  or otherwise authorized or permitted by law other than this chapter to provide health
  care in the ordinary course of the director’s business or practice of a profession,
  to the extent the director acts in that capacity, the director has no duty or liability
  under this chapter. (c) The terms of a trust may impose a duty or liability on a trust director in addition
  to the duties and liabilities under this section. (Added 2023, No. 104 (Adj. Sess.), § 1, eff. May 13, 2024.)