Sec. 7707.
(1) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
(2) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property in the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.
History: Add. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article VII - Michigan Trust Code (700.7101...700.7913)
386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)
Section 700.7701 - Acceptance or Rejection of Trusteeship.
Section 700.7702 - Trustee's Bond.
Section 700.7703 - Cotrustees; Powers and Duties; Relief of Liability.
Section 700.7706 - Removal of Trustee.
Section 700.7707 - Delivery of Property by Former Trustee.