The conservator shall have the right to exercise all the fiduciary powers which the Vermont financial institution had been exercising. However, if all of the beneficiaries, named in any trust that the financial institution for which the conservator is appointed was trustee, desire another trustee appointed to administer and manage the trust, the Probate Division may appoint a new trustee for the trust. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)