HB 1388 -- Trusts

Co-Sponsors:  May (108), O'Toole

This bill allows a majority of a trust's beneficiaries to remove
a corporate trustee that has been acquired by or merged with
another corporate trustee.  Unless the trust instrument includes
a different provision, a majority of the trust's beneficiaries
may appoint the successor trustee.  The bill specifies that the
removal and replacement of a corporate trustee in accordance
with its provisions does not require judicial intervention.