It is enacted by the General Assembly as follows:

SECTION 1. Section 18-4-24 of the General Laws in Chapter 18-4 entitled "Termination of Small Trusts" is hereby amended to read as follows:

18-4-24. Termination of small trusts. -- (a) Any corporate trustee authorized to serve as a trustee under Chapter 19-5 of the General Laws, which is a trustee of any inter vivos or testamentary trust may, in its sole discretion, or, if there is a co-trustee or co-trustees, after having obtained the approval of any such co-trustee, terminate such trust in whole or in part, if the current market value of the trust principal is less than fifty Thousand Dollars ($50,000) {ADD one hundred thousand dollars ($100,000) ADD} . The existence of any spendthrift or similar protective provision shall not preclude termination of that trust.

SECTION 2. This act shall take effect upon passage.