Vermont S0011 proposes the creation of stewardship trusts for business purposes without a definite beneficiary.

Vermont S0011 amends the state's trust laws to authorize the creation of stewardship trusts for business purposes without a definite or definitely ascertainable beneficiary. These trusts can hold ownership interests in various business entities and may seek both economic and noneconomic benefits. The bill outlines the roles of the trust stewardship committee, trust enforcers, and trustees, including their authority to modify or terminate the trust, remove trustees or enforcers, and direct distributions.

Vermont S0011 proposes the creation of stewardship trusts for business purposes without a definite beneficiary.

Vermont S0011 amends the state's trust laws to authorize the creation of stewardship trusts for business purposes without a definite or definitely ascertainable beneficiary. These trusts can hold ownership interests in various business entities and may seek both economic and noneconomic benefits. The bill outlines the roles of the trust stewardship committee, trust enforcers, and trustees, including their authority to modify or terminate the trust, remove trustees or enforcers, and direct distributions.