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General Laws of Massachusetts (Last Updated: January 16, 2020) |
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PART II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS |
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TITLE II. DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS |
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CHAPTER 190B. MASSACHUSETTS UNIFORM PROBATE CODE |
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ARTICLE VII. TRUST ADMINISTRATION |
SECTION 7-503. Resignation or removal of trustee; appointment to fill vacancy
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Section 7–503. [Resignation or Removal of Trustee; Appointment to Fill Vacancy.]
A trustee may resign by an instrument in writing delivered to the transferor or to the transferor's guardian or conservator, if any. A trustee may be removed by the transferor by an instrument in writing delivered to such trustee. If there is more than one person serving as trustee, a vacancy need not be filled, and until a successor is appointed the remaining trustee or trustees may act alone. In the event of a vacancy a successor may be appointed by the transferor, if legally competent, or as the transferor shall have provided by a written instrument, and otherwise by the transferor's guardian or conservator, if any, and if none, by the transferor's heirs presumptive, and such appointment shall become effective upon acceptance.