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Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

12 Del. C. § 3326: Resignation of an officeholder.

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Where this section sits in the code
  1. Title 12. Decedents’ Estates and Fiduciary Relations
  2. Fiduciary Relations
  3. CHAPTER 33. Administrative Provisions

(a) For purposes of this section and §§ 3327 and 3327A of this title, “officeholder” includes all of the following:

(1) A trustee;

(2) An “adviser,” as defined in § 3313 of this title.

(3) A “designated representative,” as defined in § 3339 of this title.

(4) An enforcer under § 3556(3) of this title.

(5) Holder of a power to remove or appoint 1 or more fiduciaries or nonfiduciaries with respect to a trust.

(b) An officeholder may resign:

(1) If the governing instrument expressly permits the officeholder to resign, in accordance with the terms of the governing instrument;

(2) If the governing instrument neither expressly permits nor prohibits the officeholder’s resignation, but establishes a procedure for the appointment of a successor officeholder that shall be willing and able to serve as such, upon 30 days written notice to the beneficiaries, those holding the power to appoint a successor officeholder, and any other officeholders;

(3) Alternatively, even if either paragraph (b)(1) or (b)(2) of this section applies, by a modification of a trust under § 3342 of this title;

(4) If paragraphs (b)(1), (b)(2), and (b)(3) of this section do not apply, by a nonjudicial settlement agreement under § 3338 of this title; or

(5) In all other cases, with the approval of the Court of Chancery.

(c) A beneficiary or other officeholder may waive the notice otherwise required by this section.

(d) In approving a resignation, the Court of Chancery may impose orders and conditions reasonably necessary for the protection of the trust property, including the appointment of a special fiduciary.

(e) Any liability of a resigning officeholder or of any sureties on the officeholder’s bond, if any, for acts or omissions of a resigning officeholder is not discharged or affected by the officeholder’s resignation.

Collected 2026-09-05T23:02:15Z. Source file · JSON

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