Vermont H0622 proposes the creation of stewardship trusts for business purposes without a definite beneficiary.

Vermont H0622 introduces the concept of stewardship trusts, which can be established for business purposes without a definite or ascertainable beneficiary. These trusts can hold ownership interests in various business entities. The bill outlines the roles of trust enforcers and the trust stewardship committee, detailing their responsibilities and how they can be appointed or removed. It also specifies the conditions under which a trustee can be held liable and how the trust can be terminated.

Vermont H0622 proposes the creation of stewardship trusts for business purposes without a definite beneficiary.

Vermont H0622 introduces the concept of stewardship trusts, which can be established for business purposes without a definite or ascertainable beneficiary. These trusts can hold ownership interests in various business entities. The bill outlines the roles of trust enforcers and the trust stewardship committee, detailing their responsibilities and how they can be appointed or removed. It also specifies the conditions under which a trustee can be held liable and how the trust can be terminated.