(a) If a qualified trustee of a trust ceases to meet the requirements of subparagraph (A) of subdivision (9) of section 45a-487k and no remaining trustee meets the requirements of said subparagraph, the qualified trustee shall be deemed to have resigned at the time of the cessation and the successor qualified trustee provided for in the trust instrument shall become a qualified trustee of the trust. In the absence of any successor qualified trustee provided for in the trust agreement, the court may, upon application of any interested party, appoint a successor qualified trustee.
(b) In the case of a disposition to more than one trustee, at least one of whom is a qualified trustee, a disposition that is otherwise a qualified disposition shall not be treated as other than a qualified disposition solely because not all of the trustees are qualified trustees.
(c) A trustee of a trust who is not a qualified trustee may transfer the assets of a trust to a qualified trustee. Notwithstanding the provisions of subparagraph (A) of subdivision (9) of section 45a-487k, a disposition by a trustee who is not a qualified trustee to a trustee who is a qualified trustee will not fail to qualify as a qualified disposition solely because the trust instrument does not contain an express provision that the laws of this state govern the validity, construction and administration of the trust.
(P.A. 19-137, S. 102.)
History: P.A. 19-137 effective January 1, 2020.