- 7 - tion date of the outgoing Trustee, or thirty days after receipt of the resignation, whichever occurs first. B. Removal. Upon complaint for proper cause by any agent or person appointed by the Trust, the Protector shall appoint a Committee of Arbitrators (hereinafter referred to as the Committee), to investi- gate the complaint. * * * * * * * 2. The Committee shall have the power, upon meeting, investigation, and a two-thirds (2/3) majority vote, to remove the Trustee for the following specific reasons constituting proper cause: a) insol- vency, b) negligence, c) incompetence, or d) failure to perform fiduciary duties under the terms of the Contract. * * * * * * * C. Incapacitation. In the event the Trustee is unavailable to participate in the process of his removal or the selection of a Successor Trustee, the Protector shall have the authority to execute an affi- davit, under oath, setting forth the unavailability of the Trustee. * * * D. Court Appointment. In the event it becomes necessary to litigate the removal of a Trustee and/or appointment of a Successor Trustee, the Trust, by and through its Beneficiaries, may apply to a court of competent jurisdiction for the appointment of a Successor Trustee. Discussion Rule 60 provides in pertinent part: (c) Capacity: * * * The capacity of a fiduciary or other representative to litigate in the Court shall be determined in accordance with the law of the juris- diction from which such person's authority is derived. The governing trust documents pertaining to Banana Moon Trust, the purported TMP of Jeff Burger Productions, suggest thatPage: Previous 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011