New Jersey Statutes
§ 3B:31-50 — Resignation of trustee.
New Jersey·Title 3B ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
3B:31-50. Resignation of Trustee. a. A trustee may resign:
(1)upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, all co-trustees, and the trustee or trustees, if any, designated pursuant to the terms of the trust to succeed the resigning trustee; or (2) with the approval of the court. b. In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. c. 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. L.2015, c.276, s.1.
Free access — add to your briefcase to read the full text and ask questions with AI
New Jersey § 3B:31-50 (Resignation of trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 3B:31-11
Nonjudicial settlement agreements.§ 3B:31-12
Rules of construction.§ 3B:31-13
Representation: basic effect.§ 3B:31-17
Appointment of representative.§ 3B:31-18
Methods of creating trust.§ 3B:31-19
Requirements for creation.§ 3B:31-2
Scope.§ 3B:31-21
Trust purposes.§ 3B:31-22
Charitable purposes, enforcement.