(a) A trustee may resign:
(1) upon at least 30 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: (Act 2006-216, p. 314, §1.)