5807.05 Resignation of trustee - notice - approval. - Ohio Statutes

5807.05 Resignation of trustee - notice - approval.

(A) A trustee may resign upon at least thirty days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees or 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) 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.

Effective Date: 01-01-2007