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2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 5. Colorado Uniform Trust Code
Section 15-5-705. Resignation of trustee.
Universal Citation: CO Rev Stat § 15-5-705 (2020)
(1) 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.
In approving a resignation pursuant to this section, the court may issue orders andimpose conditions reasonably necessary for the protection of the trust property.
Any liability of a resigning trustee or of any sureties on the trustee's bond for acts oromissions of the trustee is not discharged or affected by the trustee's resignation.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1170, § 1, effective January 1, 2019.
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