72-33-619. Vacancy in office of trustee. There is a vacancy in the office of trustee in any of the following circumstances:
     (1) The person named as trustee rejects the trust.
     (2) The person named as trustee cannot be identified or does not exist.
     (3) The trustee resigns or is removed.
     (4) The trustee dies.
     (5) A conservator or guardian of an individual trustee is appointed.
     (6) A certificate of incorporation of a trust company is revoked or its powers are suspended, if the revocation or suspension is to be in effect for a period of 30 days or more.
     (7) A receiver is appointed for a trust company if the appointment is not vacated within a period of 30 days.

     History: En. Sec. 57, Ch. 685, L. 1989.