Page:United States Statutes at Large Volume 76A.djvu/765

–669– -669§ 3722. Revocation A trust may not be revoked by the trustor after its acceptance, actual or presumed, by the trustee and beneficiaries, except by the consent of all the beneficiaries, unless the declaration of trust reserves a power of revocation to the trustor. I n the latter case, the power shall be strictly construed. § 3723. Vacation of office The office of a trustee is vacated by his death or his discharge. § 3724. Discharge of trustee A trustee may be discharged from his trust only by: (1) the extinction of the trust; (2) the completion of his duties under the trust; (3) such means as may be prescribed by the declaration of trust; (4) the consent of the beneficiary, if he has capacity to contract; (5) the judgment of a competent tribunal, in a direct proceeding for that purpose, that he is legally incompetent; or (6) the district court. § 3725. Removal by district court The district court may remove a trustee who has violated or is unfit to execute the trust, or may accept the resignation of a trustee. Subchapter VI—Succession or Appointment of New Trustees § 3751. Appointment by court; nominee of beneficiary The district court shall appoint a trustee whenever there is a vacancy, and the declaration of trust does not provide a practical method of appointment. I n all cases of appointment of a trustee by the court, if the beneficiary is 14 years of age or over, he may make nomination to the court, and unless the nominee is incompetent, upon one or more of the grounds of incompetency specified in section 1101 of this title, to discharge the duties of trustee, the court shall appoint the nominee as trustee. If there are two or more beneficiaries, only those 14 years of age or over may make the nomination. § 3752. Survivorship between cotrustees On the death, renunciation, or discharge of one of several cotrustees the trust survives to the others. § 3753. When court shall appoint trustee When a trust exists without an appointed trustee, or where all the trustees renounce, die, or are discharged, the district court shall appoint another trustee and direct the execution of the trust. The court may appoint the original number, or any lesser number of trustees. CHAPTER 165—ADMINISTRATION OF TRUSTS Sec

TESTAMENTARY

3781. Continuing Jurisdiction; accounting by trustee. 3782. Expenses and compensation of trustees. 3783. Declination of trustees; filling vacancies; jurisdiction. § 3781. Continuing jurisdiction; accounting by trustee (a) When a trust has been created by or under a will to continue after distribution, the district court does not lose jurisdiction of the estate by final distribution, but retains it for the purpose of the settlement of accounts under the trust. (b) A trustee created by a will, or appointed to execute a trust created by a will, may, from time to time, pending the execution of his trust, or may, at the termination thereof, render and pray for the settlement of his accounts as trustee, before the court in which the

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