South Carolina Statutes
§ 62-7-705 — Resignation of trustee.
(a)A trustee may resign:
(1)upon at least 30 days notice in writing to the qualified beneficiaries, the settlor, if living, and all cotrustees; 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.
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South Carolina § 62-7-705 (Resignation of trustee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.
Nearby Sections
15
§ 62-1-100
Effective date.§ 62-1-101
Short title.§ 62-1-102
Purposes; rules of construction.§ 62-1-104
Severability.§ 62-1-105
Construction against implied repeal.§ 62-1-106
Effect of fraud and evasion.§ 62-1-107
Evidence as to death or status.§ 62-1-108
Acts by holder of general power.§ 62-1-111
Authority to award costs and expenses.§ 62-1-112
Inherent power of court.§ 62-1-201
General definitions.§ 62-1-301
Territorial application.