Vermont § 3357 - Insurance policies and similar contracts
Full text of Vermont Vermont Statutes Online § 3357 — Insurance policies and similar contracts, with citation guidance and answers to common questions.
§ 3357. Insurance policies and similar contracts
- (a) Except as otherwise provided in subsection (b) of this section, a trustee shall allocate
to principal the proceeds of a life insurance policy or other contract in which the
trust or its trustee is named as beneficiary, including a contract that insures the
trust or its trustee against loss for damage to, destruction of, or loss of title
to a trust asset. The trustee shall allocate dividends on an insurance policy to income
if the premiums on the policy are paid from income, and to principal if the premiums
are paid from principal. (b) A trustee shall allocate to income proceeds of a contract that insures the trustee
against loss of occupancy or other use by an income beneficiary, loss of income, or,
subject to section 3353 of this title, loss of profits from a business. (c) This section does not apply to a contract to which section 3359 of this title applies. (Added 2011, No. 114 (Adj. Sess.), § 1.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 3357
What does Vermont Statutes Online § 3357 cover?
Section 3357 ("Insurance policies and similar contracts") 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 § 3357?
A common citation format is "Vermont Statutes Online § 3357" (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 § 3357 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.