Vermont § 1417 - Relief from liability and indemnification
Full text of Vermont Vermont Statutes Online § 1417 — Relief from liability and indemnification, with citation guidance and answers to common questions.
§ 1417. Relief from liability and indemnification
- (a) Except as otherwise provided in this section, a second-trust instrument shall not
relieve an authorized fiduciary from liability for breach of trust to a greater extent
than the first trust instrument. (b) A second-trust instrument may provide for indemnification of an authorized fiduciary
of the first trust or another person acting in a fiduciary capacity under the first
trust for any liability or claim that would have been payable from the first trust
if the decanting power had not been exercised. (c) A second-trust instrument shall not reduce fiduciary liability in the aggregate. (d) Subject to subsection (c) of this section, a second-trust instrument may divide and
reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution
advisors, investment advisors, trust protectors, or other persons, and relieve an
authorized fiduciary from liability for an act or failure to act of another fiduciary
as permitted by the law of this State other than this chapter. (Added 2023, No. 177 (Adj. Sess.), § 1, eff. July 1, 2024.)
Frequently Asked Questions About Vermont § 1417
What does Vermont Statutes Online § 1417 cover?
Section 1417 ("Relief from liability and indemnification") 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 § 1417?
A common citation format is "Vermont Statutes Online § 1417" (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 § 1417 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.