1997 Minnesota Statutes

     48.85 Transfer of trusts to company; condition.  

    The trustees of any estate or property may surrender and 
 resign such trust in favor of such trust company which will 
 accept the same, and convey and deliver to it all property and 
 assets of such trust, upon condition that the grantor, cestui 
 que trust, and all parties in any manner interested in the 
 execution and performance of such trust shall execute, 
 acknowledge, and deliver an instrument in writing, whereby they 
 shall consent to such transfer and the release and discharge of 
 the original trustee, and the appointment of such trust company 
 as successor.  If either party to the original trust is dead, or 
 does not join in such written consent, or if such original trust 
 was created under a last will, or an order or decree of a court 
 of record, then such transfer shall not be valid except upon the 
 judgment or decree of such court as would have jurisdiction of 
 an action to remove the acting trustee, and full compliance with 
 the terms and conditions of such judgment or decree.  

    HIST: (7736) RL s 3041; 1986 c 444