55-547.05 - Resignation of trustee.
§ 55-547.05. Resignation of trustee.
A. A trustee may resign:
1. Upon at least 30 days' notice to the settlor, if living, to allcotrustees, and to the qualified beneficiaries except those qualifiedbeneficiaries under a revocable trust which the settlor has the capacity torevoke; or
2. With the approval of the court.
B. In approving a resignation, the court may issue orders and imposeconditions reasonably necessary for the protection of the trust property.
C. Any liability of a resigning trustee or of any sureties on the trustee'sbond for acts or omissions of the trustee is not discharged or affected bythe trustee's resignation.
(2005, c. 935.)