Alabama § 19-3-41 When Settlements Compelled; Removal of Trustee and Appointment of Successor

Alabama Statutes

§ 19-3-41 — When Settlements Compelled; Removal of Trustee and Appointment of Successor

Alabama·Title 19 Fiduciaries and Trusts·Ch. 3 Trusts·Art. 2 Express Trusts for Payment or Security of Debts

If the trustee shall fail to make settlement, partial or final, as required in this article he may be compelled to do so, by citation to be issued by the register or clerk on order of the court, at the instance of any creditor or party interested in the trust, in all respects as executors and administrators may be compelled to make settlements in the court of probate; or, upon motion of a majority in value of the creditors, the court must remove such defaulting trustee and appoint another in his stead, who may be nominated by the creditors, as provided by this Code, for the nomination of an administrator of an insolvent estate by the creditors thereof.

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If the trustee shall fail to make settlement, partial or final, as required in this article he may be compelled to do so, by citation to be issued by the register or clerk on order of the court, at the instance of any creditor or party interested in the trust, in all respects as executors and administrators may be compelled to make settlements in the court of probate; or, upon motion of a majority in value of the creditors, the court must remove such defaulting trustee and appoint another in his stead, who may be nominated by the creditors, as provided by this Code, for the nomination of an administrator of an insolvent estate by the creditors thereof.

Alabama § 19-3-41 (When Settlements Compelled; Removal of Trustee and Appointment of Successor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.