15-7-308. REMOVAL OF TRUSTEE. (1) A trustee may be removed in accordance with the terms of the trust or by the court on its own initiative or on petition of a trustor, cotrustee or beneficiary.
(2) The court may remove a trustee or order other appropriate relief:
(a) If the trustee has committed a material breach of trust;
(b) If the trustee is unfit or unable to administer the trust;
(c) If lack of cooperation among cotrustees substantially impairs the administration of the trust;
(d) If the investment decisions of the trustee, although not constituting a breach of trust, have resulted in investment performance persistently and substantially below those of comparable trusts;
(e) If, because of changed circumstances, removal of the trustee would substantially further the trustor’s purpose in creating the trust; or
(f) For other good cause shown.
(3) Pending a final decision on the petition to remove the trustee, the court may order such appropriate relief as may be necessary to protect the trust property or the interests of the beneficiaries.
History:
[15-7-308, added 2000, ch. 157, sec. 1, p. 400.]