79-15-15 - The election and removal of trustees. - Mississippi Statutes

§ 79-15-15. The election and removal of trustees.
 

The declaration of trust shall provide for the annual election of successor trustees by the holders of certificates of beneficial interest, and shall further provide for the election of successor trustees by the holder of beneficial interest in the event of the death, resignation or removal of a trustee. The election of successor trustees shall not be deemed an amendment to the declaration of trust within the meaning of this chapter. 
 

Sources: Codes, 1942, § 5570-08; Laws,  1962, ch. 238, § 8, eff immediately upon its passage and approval by the Governor (approved May 15, 1962).