Colo. Rev. Stat. § 15-5-705

Current through Acts effective through 6/5/2024 of the 2024 Legislative Session
Section 15-5-705 - Resignation of trustee
(1) A trustee may resign:
(a) Upon at least thirty days' notice to the qualified beneficiaries; the settlor, if living; and all cotrustees; or
(b) With the approval of the court.
(2) In approving a resignation pursuant to this section, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(3) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.

C.R.S. § 15-5-705

Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1170, § 1, effective 1/1/2019.