Vermont § 3-119 - Association as trustee A third person dealing with the association in the association’s capacity as a trustee may assume without inquiry that the association has trust powers and will properly exercise them
Full text of Vermont Vermont Statutes Online § 3-119 — Association as trustee A third person dealing with the association in the association’s capacity as a trustee may assume without inquiry that the association has trust powers and will properly exercise them, with citation guidance and answers to common questions.
§ 3-119. Association as trustee A third person dealing with the association in the association’s capacity as a trustee may assume without inquiry that the association has trust powers and will properly exercise them
- . A third person, without actual knowledge that the association is exceeding
or improperly exercising its powers, is fully protected in dealing with the association
as if the association possessed and properly exercised the powers it purports to exercise.
A third person is not bound to assure the proper application of trust assets paid
or delivered to the association in its capacity as trustee. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 3-119
What does Vermont Statutes Online § 3-119 cover?
Section 3-119 ("Association as trustee A third person dealing with the association in the association’s capacity as a trustee may assume without inquiry that the association has trust powers and will properly exercise them") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 3-119?
A common citation format is "Vermont Statutes Online § 3-119" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 3-119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.