General Laws

[Text of section applicable as provided by 2012, 140, Sec. 66.]

Section 705. Resignation of trustee

(a) A trustee may resign:

(1) upon at least 30 days’ notice to: (i) the settlor and all co-trustees of the trust, in the case of a revocable trust, and (ii) the qualified beneficiaries and all co-trustees of the trust, in the case of any other trust; 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 shall not be discharged or affected by the trustee’s resignation.