Common use of Resignation of Trustee Clause in Contracts

Resignation of Trustee. Any Trustee may resign by writing filed among the trust papers effective upon the trustees’ discharge. The resigning Trustee, or other interested party, shall provide notice to all adult income beneficiaries and other adult beneficiaries of the Trust. The resignation shall be effective upon agreement of all parties entitled to notice, or thirty days after notice, whichever occurs first.

Resignation of Trustee. Any Trustee may resign by writing filed among the trust papers effective upon the trustees’ discharge. The resigning Trustee, or other interested party, shall provide notice to all adult income beneficiaries and other adult beneficiaries of the Trust. The resignation shall be effective upon agreement of all parties entitled to notice, or thirty days after notice, whichever occurs first. See 20 Pa.C.S.A. § 7765.