35-15-705 - Resignation of trustee. - Tennessee Statutes

35-15-705. Resignation of trustee.

(a)  A trustee may resign:

     (1)  Upon at least thirty (30) 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.

[Acts 2004, ch. 537, § 55.]