Tennessee § 35-15-705 Resignation of trustee

Tennessee Statutes

§ 35-15-705 — Resignation of trustee

(a)A trustee may resign:

(1)Upon at least thirty (30) days' notice 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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(a) A trustee may resign: (1) Upon at least thirty (30) days' notice 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.

Tennessee § 35-15-705 (Resignation of trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.