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Minn. Stat. § 501C.0705

RESIGNATION OF TRUSTEE.

Known as the Minnesota Trust Code

The act spans §§ 501–501 (98 sections).

2015 c 5 art 7 s 5

(a) A trustee may resign:

(1) upon 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.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.