Vermont § 14404 - Security The capital of a financial institution exercising trust powers shall be held as security for the faithful discharge of the duties undertaken thereby as well as for the claims of other creditors
Full text of Vermont Vermont Statutes Online § 14404 — Security The capital of a financial institution exercising trust powers shall be held as security for the faithful discharge of the duties undertaken thereby as well as for the claims of other creditors, with citation guidance and answers to common questions.
§ 14404. Security The capital of a financial institution exercising trust powers shall be held as security for the faithful discharge of the duties undertaken thereby as well as for the claims of other creditors
- . The financial institution shall furnish to the authority making
the appointment a good and sufficient bond for a sum not less than 25 percent of the
amount of the trust fund, conditioned for the faithful discharge of the duties undertaken
by virtue of section 14401 of this title. However, when the bond would not exceed $2,000.00, a financial institution shall
be relieved of furnishing it. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 14404
What does Vermont Statutes Online § 14404 cover?
Section 14404 ("Security The capital of a financial institution exercising trust powers shall be held as security for the faithful discharge of the duties undertaken thereby as well as for the claims of other creditors") 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 § 14404?
A common citation format is "Vermont Statutes Online § 14404" (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 § 14404 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.