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§ 3326 Resignation of trustee.

12 DE Code § 3326 (2019) (N/A)
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(a) A trustee may resign:

(1) If the trust instrument expressly permits the trustee to resign, in accordance with the terms of the trust instrument;

(2) If the trust instrument neither expressly permits nor prohibits the trustee’s resignation, but establishes a procedure for the appointment of a successor trustee who shall be willing and able to serve as such, upon 30 days written notice to the beneficiaries and any co-trustees; or

(3) In all other cases, with the approval of the Court of Chancery.

(b) A beneficiary or co-trustee may waive the notice otherwise required by this section.

(c) In approving a resignation, the Court of Chancery may impose orders and conditions reasonably necessary for the protection of the trust property, including the appointment of a special fiduciary.

(d) Any liability of a resigning trustee or of any sureties on the trustee’s bond, if any, for acts or omissions of a resigning trustee is not discharged or affected by the trustee’s resignation.

72 Del. Laws, c. 388, § 6; 74 Del. Laws, c. 82, § 7.

Previous Section
§ 3325 Specific powers of trustee [For application of this section, see 79 Del. Laws, c. 172, § 6; 80 Del. Laws, c. 153, § 5; 81 Del. Laws, c. 149, § 6].
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§ 3327 Removal of trustee.