Section 554D-704 - Vacancy in trusteeship; appointment of successor(a) A vacancy in a trusteeship occurs if:(1) A person designated as trustee rejects the trusteeship;(2) A person designated as trustee cannot be identified, cannot be located, or does not exist;(4) A trustee is disqualified, incapacitated, or removed;(6) A guardian or conservator is appointed for an individual serving as trustee.(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled shall be filled in the following order of priority: (1) By a person designated in the terms of the trust to act as successor trustee or a person named in the trust who has authority to appoint a successor trustee;(2) By a person selected by unanimous agreement of the qualified beneficiaries; or(3) By a person appointed by the court.(d) A vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority: (1) By a person designated in the terms of the trust to act as successor trustee or a person named in the trust who has authority to appoint a successor trustee;(2) By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the attorney general concurs in the selection; or(3) By a person appointed by the court.(e) Regardless of whether 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.Added by L 2021, c 32,§ 2, eff. 1/1/2022.