30-3861. (UTC 705) Resignation of trustee.
86 words·~1 min read·
/ne/chapter-30/30-3861A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(UTC 705)
(a)A trustee may resign:
(1)upon at least thirty days' 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.