Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
(A) A trustee may resign upon at least thirty days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees or 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) 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.
Structure Ohio Revised Code
Section 5807.01 | Acceptance or Rejection of Trusteeship.
Section 5807.02 | Bond of Trustee.
Section 5807.03 | Cotrustees - Delegation - Liability.
Section 5807.04 | Vacancy Defined - Priority in Filling - Additional Trustees.
Section 5807.05 | Resignation of Trustee - Notice - Approval.
Section 5807.06 | Removal of Trustee - Grounds - Protective Measures.
Section 5807.07 | Powers and Duties of Removed or Resigned Trustee.
Section 5807.08 | Compensation of Trustee.
Section 5807.09 | Reimbursement of Trustee for Administrative Expenses.