1. (a) This section does not apply to an easement for conservation or preservation.

2. (b) This subsection applies to a trust consisting of trust property having a total value of less than seventy-five thousand dollars ($75,000). Unless the terms of the trust provide otherwise, the trustee may terminate the trust:

   1. (1) if the trustee concludes the value of the trust property is insufficient to justify the cost of administration; and
   2. (2) after providing notice of the trust termination to qualified beneficiaries.

3. (c) The court may:

   1. (1) modify or terminate a trust; or

   2. (2) remove the trustee and appoint a different trustee;

      if the court determines that the value of the trust property is insufficient to justify the cost of administration. If a trust terminates under this subsection, the court shall direct the trustee to distribute the trust property in a manner consistent with the purposes of the trust.

4. (d) If a trust terminates under subsection (b), the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

As added by P.L.238-2005, SEC.36.