§ 62-7-705

S.C. Code Ann. § 62-7-705

Resignation of trustee

Effective Jan 1, 20142005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.

  1. (a) A trustee may resign:

    1. (1) upon at least 30 days notice in writing to the qualified beneficiaries, the settlor, if living, and all cotrustees; or
    2. (2) with the approval of the court.
  2. (b) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
  3. (c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.

HISTORY: 2005 Act No. 66, SECTION 1; 2013 Act No. 100, SECTION 2, eff January 1, 2014.

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