EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb0146*
HOUSE BILL 146
N2 5lr1554
(PRE–FILED) CF SB 126
By: Delegate Cardin
Requested: October 31, 2024
Introduced and read first time: January 8, 2025
Assigned to: Judiciary
A BILL ENTITLED
AN ACT concerning 1
Estates and Trusts – Resignation of Trustee – Notice 2
FOR the purpose of authorizing the trustee of a trust to resign under the Maryland Trust 3
Act on certain notice; and generally relating to the resignation of trustees. 4
BY repealing and reenacting, with amendments, 5
Article – Estates and Trusts 6
Section 14.5–705 7
Annotated Code of Maryland 8
(2022 Replacement Volume and 2024 Supplement) 9
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 10
That the Laws of Maryland read as follows: 11
Article – Estates and Trusts 12
14.5–705. 13
(a) A trustee may resign [with]: 14
(1) ON AT LEAST 30 DAYS’ NOTICE TO: 15
(I) THE QUALIFIED BENEFIC IARIES; 16
(II) THE SETTLOR, IF LIVING; 17
(III) ALL COTRUSTEES ; AND 18
2 HOUSE BILL 146
(IV) ANY PERSON THAT HAS A RIGHT TO REPLACE OR APPOINT A 1
SUCCESSOR TO THE RES IGNING TRUSTEE ; OR 2
(2) WITH the approval of the court. 3
(b) In approving a resignation of a trustee, the court may issue orders and impose 4
conditions reasonably necessary for the protection of the trust property. 5
(c) Liability of a resigning trustee or of a surety on the bond of the trustee for acts 6
or omissions of the trustee is not discharged or affected by the resignation of the trustee. 7
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 8
October 1, 2025. 9