Colorado § 15-5-705 Resignation of trustee

Colorado Statutes

§ 15-5-705 — Resignation of trustee

Colorado·Title 15 Probate,·Art. Colorado Uniform Trust Code

(1)A trustee may resign:

(a)Upon at least thirty days' notice to the qualified beneficiaries; the settlor, if living; and all cotrustees; or

(b)With the approval of the court.

(2)In approving a resignation pursuant to this section, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

(3)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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(1) A trustee may resign:

(a) Upon at least thirty days' notice to the qualified beneficiaries; the settlor,
if living; and all cotrustees; or

(b) With the approval of the court.

(2) In approving a resignation pursuant to this section, the court may issue
orders and impose conditions reasonably necessary for the protection of the trust
property.

(3) 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.

Colorado § 15-5-705 (Resignation of trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.