§ 2653 - Extent of guardian's control - Vermont Statutes

§ 2653. Extent of guardian's control

(a) A guardian of a minor appointed by the probate court shall have the care and management of the estate and, except as otherwise provided, the custody and tuition of the minor. Such guardian shall furnish him suitable employment, and provide for his education and instruction in the arts and sciences or some trade or profession, according to his circumstances.

(b) The guardian shall invest and reinvest the cash resources of the minor in bank accounts insured by the FDIC, securities issued by the government of the United States, or by a state or municipality.

Subject to the approval of the probate court, not more than 50 percent of the cash resources may be invested in corporate bonds rated AAA by Moody and in common stocks listed on the New York Stock Exchange.

(c) Evidence of the investment of funds shall be given to the court within fifteen days therefrom. (Amended 1959, No. 262, § 31, eff. June 11, 1959; 1979, No. 76, § 1; 1983, No. 224 (Adj. Sess.).)