§ 18-B §704 — Vacancy in trusteeship; appointment of successor

Maine § 18-B §704

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

Text

1.
Vacancy.
A vacancy in a trusteeship occurs if:
2.
Filling of vacancies.
If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
3.
Order of priority; noncharitable trust.
A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
4.
Order of priority; charitable trust.
A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
5.
Appointment by court.
Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.

Legislative History

PL 2003, c. 618, §A1 (NEW). PL 2003, c. 618, §A2 (AFF). PL 2005, c. 184, §14 (AMD).