2006 New York Code - Appointment Of Trustee



 
  § 1502. Appointment of trustee
    1.    The  court  may  appoint a trustee or successor or successors or
  co-trustee or co-trustees whenever there is no trustee able  to  act  or
  all  or  one  of  the  trustees  is  unable  to  act  and a successor or
  co-trustee in his or their place is necessary in order  to  execute  the
  trust  or  execute  any  power  created  by  a  will  or  lifetime trust
  instrument creating a trust, the execution of which  has  devolved  upon
  the court or upon the supreme court.
    2.   The court shall not appoint a trustee, successor or co-trustee if
  the appointment would contravene  the  express  terms  of  the  will  or
  lifetime  trust  instrument  or if a trustee may be or has been named in
  the will or  lifetime  trust  instrument  as  successor,  substitute  or
  co-trustee and is not disqualified to act.
    3.  Until a successor or co-trustee is appointed the remaining trustee
  or trustees may execute the trust.
    4.    A  trustee,  successor  or  co-trustee may be appointed upon the
  application of any person interested and upon notice to such persons  as
  the court may designate.
    5.   The court may appoint a successor trustee for any purposes deemed
  necessary to complete administration or distribution of  a  trust  which
  has  terminated  by  the  occurrence of the event measuring its duration
  when there is no person in office able to execute it.
    6.  A successor trustee shall be subject to the  same  duties,  as  to
  accounting  and  trust administration, as are imposed by law on trustees
  and, in addition to the reasonable expenses incurred in  the  course  of
  trust  administration,  shall be entitled to commissions as may be fixed
  by any court having  jurisdiction  to  pass  upon  the  trustee's  final
  account,  which shall in no case exceed the commissions allowable by law
  to trustees.

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