LegalFix
Sign In

Section 7765 - Resignation of trustee; filing resignation

20 PA Cons Stat § 7765 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) Court approval.--(Deleted by amendment).

(a.1) General rule.--A trustee may resign:

(1) with court approval;

(2) without court approval if authorized to resign by the trust instrument; or

(3) pursuant to a nonjudicial settlement agreement described in section 7710.1 (relating to nonjudicial settlement agreements - UTC 111).

(b) Without court approval if authorized by trust instrument.--(Deleted by amendment).

(c) Without court approval and without authorization in trust instrument.--(Deleted by amendment).

(d) Liability.--The resignation of a trustee shall not by itself relieve the resigning trustee of liability in connection with the administration of the trust.

(e) Filing resignation.--A resignation of a trustee may be filed with the clerk of the court having jurisdiction over the trust.

(July 8, 2016, P.L.497, No.79, eff. Jan. 1, 2017)

2016 Amendment. Act 79 added subsec. (a.1) and deleted subsecs. (a), (b) and (c).

Previous Section
Section 7764 - Vacancy in trusteeship; appointment of successor - UTC 704
Next Section
Section 7766 - Removal of trustee - UTC 706