55-3-47 Cessation of trustee upon action of foreign court--Successor trustee.
Cessation of trustee upon action of foreign court--Successor trustee.
If, in any action
brought against a trustee of a trust, a foreign court takes any action whereby such court declines to
apply the law of this state in determining the validity, construction, or administration of such trust,
or the effect of a spendthrift provision thereof, the trustee shall immediately upon the foreign court's
action and without the further order of any court of this state, cease in all respects to be trustee of the
trust and a successor trustee shall thereupon succeed as trustee in accordance with the terms of the
trust instrument or, if the trust instrument does not provide for a successor trustee and the trust would
otherwise be without a trustee, the court, upon the application of any beneficiary of the trust, shall
appoint a successor trustee upon such terms and conditions as it determines to be consistent with the
purposes of the trust and this section. Upon the trustee's ceasing to be trustee, the trustee has no
power or authority other than to convey the trust property to the successor trustee named in the trust
instrument in accordance with this section.
Source: SL 2006, ch 243, § 10.