Maryland Code, ESTATES AND TRUSTS 14.5-705
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Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-705
- Trustee: A person or institution holding and administering property in trust.
(a) A trustee may resign with the approval of the court.
(b) In approving a resignation of a trustee, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c) Liability of a resigning trustee or of a surety on the bond of the trustee for acts or omissions of the trustee is not discharged or affected by the resignation of the trustee.