EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0126*
SENATE BILL 126
N2 5lr1281
(PRE–FILED) CF HB 146
By: Senator West
Requested: October 19, 2024
Introduced and read first time: January 8, 2025
Assigned to: Judicial Proceedings
Committee Report: Favorable
Senate action: Adopted
Read second time: February 16, 2025
CHAPTER ______
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 2 SENATE BILL 126
(II) THE SETTLOR, IF LIVING; 1
(III) ALL COTRUSTEES ; AND 2
(IV) ANY PERSON THAT HAS A RI GHT TO REPLACE OR APPOINT A 3
SUCCESSOR TO THE RES IGNING TRUSTEE ; OR 4
(2) WITH the approval of the court. 5
(b) In approving a resignation of a trustee, the court may issue orders and impose 6
conditions reasonably necessary for the protection of the trust property. 7
(c) Liability of a resigning trustee or of a surety on the bond of the trustee for acts 8
or omissions of the trustee is not discharged or affected by the resignation of the trustee. 9
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 10
October 1, 2025. 11
Approved:
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Governor.
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President of the Senate.
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Speaker of the House of Delegates.