§ 14.5-705
111 words·~1 min read·
/md/estates-and-trusts/14-5-705·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§14.5–705.
(a)A trustee may resign:
(1)On at least 30 days’ notice to:
(i)The qualified beneficiaries;
(ii)The settlor, if living;
(iii)All cotrustees; and
(iv)Any person that has a right to replace or appoint a successor to the resigning trustee; or
(2)With the approval of the court.
(b)In approving a resignation of a trustee, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c)Liability of a resigning trustee or of a surety on the bond of the trustee for acts or omissions of the trustee is not discharged or affected by the resignation of the trustee.