75-7-705 - Resignation of trustee.
75-7-705. Resignation of trustee.
(1) A trustee may resign:
(a) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and allcotrustees; or
(b) with the approval of the court.
(2) In approving a resignation, the court may issue orders and impose conditionsreasonably 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 oromissions of the trustee is not discharged or affected by the trustee's resignation.
Enacted by Chapter 89, 2004 General Session