Current through the 2016 Legislative Session
There is a vacancy in the office of trustee in any of the following circumstances:
(a) The person named as trustee rejects the trust.
(b) The person named as trustee cannot be identified or does not exist.
(c) The trustee resigns or is removed.
(e) A conservator or guardian of the person or estate of an individual trustee is appointed.
(f) The trustee is the subject of an order for relief in bankruptcy.
(g) A trust company's charter is revoked or powers are suspended, if the revocation or suspension is to be in effect for a period of 30 days or more.
(h) A receiver is appointed for a trust company if the appointment is not vacated within a period of 30 days.
Amended by Stats 2009 ch 500 (AB 1059),s 57, eff. 1/1/2010.