Current through Register Vol. 49, No. 8, August 19, 2024
Section 501C.0705 - RESIGNATION OF TRUSTEE(a) A trustee may resign:(1) upon 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.Added by 2015 Minn. Laws, ch. 5,s 7-5, eff. 1/1/2016.