58a-704.Vacancy in trusteeship;appointment of successor.(a) A vacancy in a trusteeship occurs if:
(1) A person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does notexist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian or conservator is appointed for an individual serving astrustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeshipneed not befilled. A vacancy in a trusteeship must be filled if the trust has noremaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that isrequired to be filled must be filled in thefollowing orderof priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person appointed by unanimous agreement of the qualifiedbeneficiaries;or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required tobe filled must be filled in the following order of priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person selected by the charitable organizations expressly designatedto receive distributions under the terms of the trust if the attorney generalconcurs in the selection; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to befilled, the courtmay appoint an additional trustee or special fiduciary whenever the courtconsiders the appointmentnecessary for the administration of the trust.
58a-704.Vacancy in trusteeship;appointment of successor.(a) A vacancy in a trusteeship occurs if:
(1) A person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does notexist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian or conservator is appointed for an individual serving astrustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeshipneed not befilled. A vacancy in a trusteeship must be filled if the trust has noremaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that isrequired to be filled must be filled in thefollowing orderof priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person appointed by unanimous agreement of the qualifiedbeneficiaries;or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required tobe filled must be filled in the following order of priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person selected by the charitable organizations expressly designatedto receive distributions under the terms of the trust if the attorney generalconcurs in the selection; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to befilled, the courtmay appoint an additional trustee or special fiduciary whenever the courtconsiders the appointmentnecessary for the administration of the trust.
58a-704.Vacancy in trusteeship;appointment of successor.(a) A vacancy in a trusteeship occurs if:
(1) A person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does notexist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a guardian or conservator is appointed for an individual serving astrustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeshipneed not befilled. A vacancy in a trusteeship must be filled if the trust has noremaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that isrequired to be filled must be filled in thefollowing orderof priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person appointed by unanimous agreement of the qualifiedbeneficiaries;or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required tobe filled must be filled in the following order of priority:
(1) By a person designated in the terms of the trust to act as successortrustee;
(2) by a person selected by the charitable organizations expressly designatedto receive distributions under the terms of the trust if the attorney generalconcurs in the selection; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to befilled, the courtmay appoint an additional trustee or special fiduciary whenever the courtconsiders the appointmentnecessary for the administration of the trust.
