Vermont Statutes Title 8. Banking and Insurance, § 14407. Collective investment funds

(1) a fund maintained by the financial institution, or by one or more affiliated financial institutions, exclusively for the collective investment and reinvestment of money contributed to the fund by the financial institution, or by one or more affiliated financial institutions, in its capacity as trustee, executor, administrator, guardian, or custodian under the Uniform Gift to Minors Act;

(2) a fund consisting solely of assets of retirement, pension, profit sharing, stock bonus, or other trusts that are exempt from federal income taxation under the Internal Revenue Code; and

(3) a fund consisting of any other assets held as a fiduciary, to the extent not prohibited by applicable law.

(1) the requirements for a written plan for the establishment, maintenance, and operation of collective investment funds;

(2) the method and frequency of valuation of such fund's assets;

(3) the admission and withdrawal of accounts;

(4) standards on self-dealing and conflicts of interest;

(5) permissible management fees;

(6) the requirements for audits and financial reports of collective investment funds; and

(7) the requirements for the establishment, maintenance, and operation of other investments permitted by subdivision (a)(3) of this section, including the treatment of exemptions from the provisions of this section.