Resignation of trustee.

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(1) A trustee may resign:

  1. Upon at least thirty days' notice to the qualified beneficiaries; the settlor, if living;and all cotrustees; or

  2. With the approval of the court.

  1. In approving a resignation pursuant to this section, the court may issue orders andimpose conditions reasonably necessary for the protection of the trust property.

  2. 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.

Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1170, § 1, effective January 1, 2019.


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