CHAPTER 326

RELATING TO TRUST FUNDS

AN ACT TO AMEND SECTION 3521, TITLE 12, DELAWARE CODE RELATING TO ACCOUNTING AND DISTRIBUTION OF TRUST FUNDS.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. § 3521, Title 12 Delaware Code is amended by adding the following new sentence at the end of such section:

Notwithstanding the foregoing provisions of this section, the trustee of an inter-vivos trust, to whom property shall have been bequeathed or devised by a Will, shall not be required to file any accounts with respect to such property so bequeathed or devised, except upon an order of the Court of Chancery, for cause shown, expressly requiring an accounting by such trustee; nor shall a successor trustee of an inter-vivos trust appointed by the Court of Chancery be required to file any accounts with respect to the property held in such trust, except as may be otherwise provided in the order of the Court of Chancery appointing such successor trustee or upon an order of the Court of Chancery, for cause shown, expressly requiring an accounting by such successor trustee.

Approved February 14, 1958.