Current through Chapter 381 of the 2024 Legislative Session
Section 564-B:7-705 - Resignation of Trustee(a) A trustee may resign: (1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or (2) with the approval of the court.(b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.(c) 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. 2004, 130:1, eff. Oct. 1, 2004.