Cotrustees — Vermont Code § 703
Vermont Code § 703 — Cotrustees. Reproduced from the official Vermont Statutes Online, with a citation summary, verification link, and related provisions.
§ 703. Cotrustees
- (a) Cotrustees who are unable to reach a unanimous decision may act by majority decision. (b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust. (c) A cotrustee must participate in the performance of a trustee’s function unless the
cotrustee is unavailable to perform the function because of absence, illness, disqualification
under other law, or other temporary incapacity, or the cotrustee has properly delegated
the performance of the function to another trustee. (d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification
under other law, or other temporary incapacity, and prompt action is necessary to
achieve the purposes of the trust or to avoid injury to the trust property, the remaining
cotrustee or a majority of the remaining cotrustees may act for the trust. (e) A trustee may not delegate to a cotrustee the performance of a function the settlor
reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable,
a trustee may revoke a delegation previously made. (f) Except as otherwise provided in subsection (g) of this section, a trustee who does
not join in an action of another trustee is not liable for the action. (g) Each trustee shall exercise reasonable care to: (1) prevent a cotrustee from committing a serious breach of trust; and (2) compel a cotrustee to redress a serious breach of trust. (h) A dissenting trustee who joins in an action at the direction of the majority of the
trustees and who notified in writing any cotrustee of the dissent at or before the
time of the action is not liable for the action unless the action is a serious breach
of trust. (Added 2009, No. 20, § 1.)
Source: official Vermont text · Last verified 2026-08-27
At a glance
- Citation: Vermont Statutes Online § 703
- Jurisdiction: Vermont
- Code: Vermont Statutes Online
- Subject: Cotrustees
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Vermont Statutes Online. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Vermont attorney.
Common questions
What is the source of Vermont Statutes Online § 703?
The text above is transcribed from the Vermont Statutes Online, the codified statutes of Vermont. The official publisher link appears under "Verify the text" on this page.
What subject does Vermont Statutes Online § 703 address?
It addresses "Cotrustees". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Vermont Statutes Online § 703 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Vermont source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Vermont law to your facts requires a licensed Vermont attorney who can review the specifics.