Delaware § 3326 Resignation of an officeholder

Delaware Statutes

§ 3326 — Resignation of an officeholder

Delaware § 3326

Title12

PartFiduciary Relations

Ch. 33ADMINISTRATIVE PROVISIONS

This text of Delaware § 3326 (Resignation of an officeholder) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 3326 (2026).

Text

(a)For purposes of this section and § 3327 of this title, the term “officeholder” includes a trustee, an “adviser” as defined in § 3313 of this title, a “designated representative” as defined in § 3339 of this title, and an enforcer under § 3556(3) of this title.

(b)An officeholder may resign:

(1)If the governing instrument expressly permits the officeholder to resign, in accordance with the terms of the governing instrument;

(2)If the governing instrument neither expressly permits nor prohibits the officeholder’s resignation, but establishes a procedure for the appointment of a successor officeholder that shall be willing and able to serve as such, upon 30 days written notice to the beneficiaries, those holding the power to appoint a successor officeholder, and any other officehold

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(a) For purposes of this section and § 3327 of this title, the term “officeholder” includes a trustee, an “adviser” as defined in § 3313 of this title, a “designated representative” as defined in § 3339 of this title, and an enforcer under § 3556(3) of this title.

(b) An officeholder may resign:

(1) If the governing instrument expressly permits the officeholder to resign, in accordance with the terms of the governing instrument;

(2) If the governing instrument neither expressly permits nor prohibits the officeholder’s resignation, but establishes a procedure for the appointment of a successor officeholder that shall be willing and able to serve as such, upon 30 days written notice to the beneficiaries, those holding the power to appoint a successor officeholder, and any other officeholders;

(3) Alternatively, even if either paragraph (b)(1) or (b)(2) of this section applies, by a modification of a trust under § 3342 of this title;

(4) If paragraphs (b)(1), (b)(2), and (b)(3) of this section do not apply, by a nonjudicial settlement agreement under § 3338 of this title; or

(5) In all other cases, with the approval of the Court of Chancery.

(c) A beneficiary or other officeholder may waive the notice otherwise required by this section.

(d) In approving a resignation, the Court of Chancery may impose orders and conditions reasonably necessary for the protection of the trust property, including the appointment of a special fiduciary.

(e) Any liability of a resigning officeholder or of any sureties on the officeholder’s bond, if any, for acts or omissions of a resigning officeholder is not discharged or affected by the officeholder’s resignation.