A. A trustee may resign:
(1) upon at least thirty days' notice to the qualified beneficiaries, the settlor, if living, and all co-trustees; or
(2) with the approval of the court.
B. In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
C. Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
History: Laws 2003, ch. 122, § 7-705; 2007, ch. 128, § 20.
The 2007 amendment, effective July 1, 2007, required a trustee to given notice of resignation to the settlor.
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