Section 58-5118 - Removal or replacement of authorized fiduciary; restrictionsAn authorized fiduciary shall not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless the:
(a) Person holding the power consents to the modification in a signed record and the modification applies only to the person;(b) person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or(c) court approves the modification and the modification grants a substantially similar power to another person.Added by L. 2023, ch. 48,§ 18, eff. 7/1/2023.