1. (a) In addition to the terms of a trust regarding the circumstances under which a trustee vacancy occurs, a trustee vacancy occurs if:

   1. (1) a person designated as trustee does not accept being trustee;
   2. (2) a person designated as trustee cannot be identified or does not exist;
   3. (3) a trustee resigns;
   4. (4) a trustee is disqualified or removed;
   5. (5) a trustee dies; or
   6. (6) the person designated as trustee lacks capacity.
2. (b) Except as provided in the terms of a trust, if a trust has at least two (2) cotrustees and at least one (1) cotrustee remains in office, a cotrustee vacancy is not required to be filled. A cotrustee vacancy must be filled if the trust has no remaining cotrustee.

3. (c) Except as provided in the terms of a trust, a trustee vacancy of a noncharitable trust that is required to be filled must be filled according to the following priority:

   1. (1) A person designated in the terms of the trust to act as successor trustee.
   2. (2) A person appointed by a majority of the qualified beneficiaries.
   3. (3) A person appointed by the court.

4. (d) Except as provided in the terms of a trust, a trustee vacancy of a charitable trust that is required to be filled must be filled according to the following priority:

   1. (1) A person designated in the terms of the trust to be successor trustee.

   2. (2) A person:

      1. (A) selected by the charitable organizations expressly designated to receive distributions under the terms of the trust; and
      2. (B) whose selection is approved by the attorney general.
   3. (3) A person appointed by the court.
5. (e) Regardless of whether a trustee vacancy exists or is required to be filled, the court may appoint an additional trustee or a special fiduciary if the court considers the appointment necessary for the administration of the trust.

As added by P.L.238-2005, SEC.39.