§ 19-1307.05. Resignation of trustee.

Current through October 23, 2012

(a) A trustee may resign:

(1) Upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees or, if there is no cotrustee, to the next designated successor trustee; 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

                
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(Mar. 10, 2004, D.C. Law 15-104, § 2(b), 51 DCR 208.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 15-104, see notes following § 19-1301.01.

Uniform Law

This section is based upon § 705 of the Uniform Trust Code. See 7C, Uniform Laws Annotated, Master Edition, or ULA Database on Westlaw.