VT H0622

Authorizes creation of stewardship trusts in Vermont for business purposes without requiring a definite beneficiary, allowing pursuit of both economic and noneconomic benefits

Extends the maximum duration of noncharitable trusts without ascertainable beneficiaries from 21 years to 500 years

Requires stewardship trusts to have a trust stewardship committee of at least three members with fiduciary duties, empowered to remove/appoint trustees and trust enforcers, direct distributions, and vote stock owned by the trust

Establishes trust enforcers to enforce trust purposes and terms, with the court appointing enforcers if none are serving; enforcers cannot be beneficiaries and must remain separate from trustees and committee members

Takes effect upon passage and does not apply to trusts created under 11A V.S.A. § 7.30 (voting trusts for corporations)