379.040 Resignation or removal of assignee.
129 words·~1 min read·
/ky/chapter-379/379-040A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)An assignee may resign his trust upon settling his accounts, and the settlement shall
be confirmed and the assignee discharged from liability sixty
(60)days after the
settlement has been filed, if no exceptions are filed thereto. If exceptions are filed,
they shall be heard and determined by the court.
(2)If an assignee moves his residence out of the state, or becomes insane or otherwise
incapable of discharging the trust, the court may, upon ten
(10)days' notice to him,
his attorney or committee, remove the assignee and appoint another in his stead. If
creditors representing one-half (1/2) in number and two-thirds (2/3) of the amount
of debts against the estate so request in writing, the court shall remove the assignee
and appoint another in his stead.