53-12-201. Appointment and vacancies.

A settlor may appoint trustees or grant that power to others, including trust beneficiaries.#

A trust shall never fail for want of a trustee.#

A vacancy in a trusteeship occurs if:#

1. (1)

   A person designated as trustee rejects the trusteeship;#

2. (2)

   A person designated as trustee cannot be identified, cannot be located, or does not exist;#

3. (3)

   A guardian or conservator is appointed for an individual serving as trustee;#

4. (4)

   A trustee is disqualified or removed;#

5. (5)

   A trustee resigns or dies; or#

6. (6)

   For any other reason there is no person currently serving as trustee of a trust.#

Unless otherwise provided in the trust instrument, if one or more cotrustees remain in office, a vacancy need not be filled.#

A vacancy in a trusteeship that is required to be filled shall be filled, in the following order of priority, by a person:#

1. (1)

   Designated in the trust instrument as successor trustee;#

2. (2)

   Appointed as provided in the trust instrument;#

3. (3)

   Appointed by the unanimous agreement of the qualified beneficiaries; or#

4. (4)

   On petition of an interested person, appointed by the court.#

Regardless of whether a vacancy in a trusteeship exists or is required to be filled, the court may, on petition of an interested person, appoint an additional trustee or special fiduciary whenever the court considers the appointment consistent with the intention of the settlor and the interests of the beneficiaries, or otherwise necessary for the administration of the trust.#

A petition provided for in this Code section shall be served upon all qualified beneficiaries.#

A trustee appointed as a successor trustee shall have all the authority of the original trustee.#