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§ 44d-7-704 — West Virginia Law | CourtGPT
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  5. Article 7 - Office of the Trustee§44d-7-701. Accepting or Declining Trusteeship/
  6. § 44d-7-704
West Virginia Legal Code

§ 44d-7-704

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(a) A vacancy in a trusteeship occurs if:(1) A person designated as trustee rejects the trusteeship;(2) A person designated as trustee cannot be identified or does not exist;(3) A trustee resigns;(4) A trustee is disqualified or removed;(5) A trustee dies; or(6) A guardian or conservator is appointed for an individual serving as trustee.(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled unless otherwise provided in the terms of the trust instrument. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.(c) Unless otherwise provided in the terms of the trust instrument, a vacancy in a trusteeship of a noncharitable trust that is required to be filled shall be filled in the following order of priority:(1) By a person designated in the terms of the trust instrument to act as successor trustee;(2) By a person appointed by a unanimous record of the qualified beneficiaries; or(3) By a person appointed by the court having jurisdiction of the trust.(d) Unless otherwise provided, a vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority:(1) By a

ing jurisdiction of the trust.(d) Unless otherwise provided, a vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority:(1) By a person designated in the terms of the trust to act as successor trustee;(2) By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust instrument if the Attorney General of West Virginia either concurs in a record to the selection or fails to make a written objection to the selection within 90 days after receiving by certified or registered mail a notice of the selection by the charitable organizations; or(3) By a person appointed by the court having jurisdiction over the trust.(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may upon petition of the grantor, a qualified beneficiary, or a cotrustee, appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.