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<section article="get" article_name="Estates and Trusts" number="15-1A-04" title_number="15" title_name="Fiduciaries" subtitle_number="1A" subtitle_name="Successor Corporate Fiduciaries">
  <level label="a">
    <text>When a successor fiduciary is substituted under this subtitle, the successor fiduciary shall send notice to the following persons at the person’s last known address:</text>
    <level label="1">
      <text>Each cofiduciary of the successor fiduciary;</text>
    </level>
    <level label="2">
      <text>Each surviving settlor of a trust;</text>
    </level>
    <level label="3">
      <text>Each person who, alone or in conjunction with others, has the power to remove any corporate fiduciary; and</text>
    </level>
    <level label="4">
      <level label="i">
        <text>Except as provided in subparagraph (ii) of this paragraph, each beneficiary of a trust, estate, or fund with respect to which a substitution of corporate fiduciary under this subtitle is made.</text>
      </level>
      <level label="ii">
        <text>In the case of a trust described in 26 U.S.C. § 401(a), notice shall be given to the employer or employee organization responsible for the maintenance of the trust.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <text>The notice required under subsection (a) of this section shall be:</text>
    <level label="1">
      <text>Personally delivered or mailed by registered mail, postage prepaid, return receipt requested, within 30 days before or after substitution of the successor fiduciary; and</text>
    </level>
    <level label="2">
      <text>Published once a week in 3 successive weeks in one or more newspapers of general circulation published in the county in which the principal place of business of the successor fiduciary is located.</text>
    </level>
  </level>
  <level label="c">
    <text>The notice required under subsection (a) of this section shall contain:</text>
    <level label="1">
      <text>The name of the predecessor corporate fiduciary;</text>
    </level>
    <level label="2">
      <text>The name of the successor fiduciary;</text>
    </level>
    <level label="3">
      <text>The effective date of substitution of the successor fiduciary; and</text>
    </level>
    <level label="4">
      <text>A summary of the provisions of this subtitle, including a statement of the rights and procedures available under subsection (d) of this section.</text>
    </level>
  </level>
  <level label="d">
    <level label="1">
      <text>In this subsection, “interested party” means a person who:</text>
      <level label="i">
        <text>Is entitled to notice under subsection (a) of this section; and</text>
      </level>
      <level label="ii">
        <text>Has an interest in the trust, estate, or fund that is the subject of a complaint filed under this subsection.</text>
      </level>
    </level>
    <level label="2">
      <text>A person entitled to notice under subsection (a) of this section who objects to the appointment of the successor fiduciary may, within 60 days after substitution of the successor fiduciary, file a complaint for removal of the successor fiduciary in the circuit court for the county in which the principal place of business of the successor fiduciary is located.</text>
    </level>
    <level label="3">
      <text>After notice to all interested parties and a hearing, the court:</text>
      <level label="i">
        <text>May appoint a new fiduciary to replace the successor fiduciary if it finds that substitution of the successor fiduciary under § 15-1A-02 of this subtitle will adversely affect administration of the trust, estate, or fund and that appointment of a new fiduciary will be in the best interests of the plaintiff and all other interested parties; and</text>
      </level>
      <level label="ii">
        <text>Shall appoint a new fiduciary to replace the successor fiduciary if the complaint for removal includes an objection to the qualifications of the successor fiduciary and the successor fiduciary’s qualification is dependent on the provisions of § 15-1A-03(a) of this subtitle.</text>
      </level>
    </level>
  </level>
</section>
