N.C. Gen. Stat. § 36C-7-705
Resignation of trustee
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) A trustee may resign: Upon at least 30 days' notice in writing to the qualified beneficiaries, the settlor, if living, and all cotrustees; or
(1) A trustee may resign: Upon at least 30 days’ notice in writing to the qualified beneficiaries, the settlor, if living, and all cotrustees; or
(2) With the approval of the court.
(2) With the approval of the court.
(3) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(3) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(4) 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.
(4) 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.
History
(2005-192, s. 2.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.