VT S0011

Authorizes creation of stewardship trusts in Vermont for business purposes without a definite beneficiary, allowing the trust to pursue both economic and noneconomic benefits

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

Requires each stewardship trust to have a trust stewardship committee with at least three members who serve as fiduciaries and can remove trustees, appoint successors, direct distributions, and vote stock owned by the trust

Establishes trust enforcers to enforce the trust's purpose and terms, with the court appointing enforcers if none are designated; enforcers cannot be beneficiaries of the trust

Prohibits the same person from serving simultaneously as trustee, trust enforcer, or stewardship committee member, and takes effect upon passage