(1) A trustee may resign: (a) Upon at least thirty days’ notice to the qualified beneficiaries; the settlor, if living; and all cotrustees; or (b) With the approval of the court. (2) In approving a resignation pursuant to this section, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property. (3) 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.
C.R.S. § 15-5-705
Resignation of trustee
Known as the Colorado Uniform Trust Code
The act spans §§ 15–15 (104 sections).
Digitized from: Public.Law — Colorado Revised Statutes. Reproduced from public-domain Colorado statutes; confirm against the official source for the current text. Not legal advice.