7-2.6 - Resignation, suspension or removal of trustee - New York Statutes

§ 7-2.6 Resignation, suspension or removal of trustee (a) Subject to the relevant provisions of the civil practice law and rules, the supreme court has power: (1) On the application of a trustee, to accept his resignation and to discharge him on such terms as it deems proper. (2) On the application of any person interested in the trust estate, to suspend or remove a trustee who has violated or threatens to violate his trust, who is insolvent or whose insolvency is imminent or apprehended or who for any reason is a person unsuitable to execute the trust. (3) In case of the resignation or removal of a trustee, to appoint a successor trustee and, if there is no acting trustee, to cause the trust to be executed by a receiver or other officer under its direction. This section does not apply to a trust arising or resulting by implication of law, nor where other provision is made by law for the resignation, suspension or removal of a trustee or the appointment of a successor trustee.