Maine § 18-B §701 Accepting or declining trusteeship

Maine Statutes

§ 18-B §701 — Accepting or declining trusteeship

Maine·Title 18-B TRUSTS·Part 1 MAINE UNIFORM TRUST CODE·Ch. 7 OFFICE OF TRUSTEE

1.Acceptance. Except as otherwise provided in subsection 3, a person designated as trustee accepts the trusteeship:

2.Rejection. A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.

3.Action without acceptance. A person designated as trustee, without accepting the trusteeship, may:

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1.
Acceptance.
Except as otherwise provided in subsection 3, a person designated as trustee accepts the trusteeship:
2.
Rejection.
A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.
3.
Action without acceptance.
A person designated as trustee, without accepting the trusteeship, may:

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