§ 36C-8A-11. Removal of power holder.

237 words·~1 min read·/nc/chapter-36c/36c-8a-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)For the reasons set forth in subsection

(b)of this section, the settlor of an irrevocable trust, a trustee of an irrevocable trust, or a beneficiary of an irrevocable trust may request the court to remove a power holder, or a power holder may be removed by the court on its own initiative.

(b)The court may remove a power holder under any of the following circumstances:

(1)The power holder has committed a serious breach of trust.

(2)Lack of cooperation with the trustee substantially impairs the administration of the trust.

(3)Because of unfitness, unwillingness, or a persistent failure of the power holder to exercise effectively the duties and powers conferred upon the power holder the court determines that removal of the power holder best serves the interests of the beneficiaries.

(4)There has been a substantial change of circumstances, the court finds that removal of the power holder best serves the interests of all of the beneficiaries and is consistent with a material purpose of the trust, and a suitable successor power holder is available.

(c)Pending a final decision on a request to remove a power holder, or in lieu of or in addition to removing a power holder, the court may order appropriate relief under G.S. 36C-10-1001(b) as may be necessary to protect the trust property or the interests of the beneficiaries. (2012-18, s. 3.4.)