1. (a) All conservators, guardians and trustees, including (1) those entrusted with testamentary trusts unless excused by the will creating the trust, (2) conservators of the person authorized under subsection (a) of section 45a-656 to manage the finances of a conserved person, and (3) guardians of adults with intellectual disability authorized under section 45a-677a to manage the finances of a protected person, shall render periodic accounts of their trusts signed under penalty of false statement to the Probate Court having jurisdiction for allowance, at least once during each three-year period and more frequently if required by the court or by the will or trust instrument creating the trust. At the end of each three-year period from the date of the last allowance of a periodic account, or upon the earlier receipt of a final account, there shall be a hearing on all periodic accounts not previously allowed, and the final account, if any, in accordance with sections 45a-178 and 45a-179.
2. (b) If the estate held by any person in any such fiduciary capacity is less than two thousand dollars, or, in the case of a corporate fiduciary under the supervision of the Banking Commissioner or any other fiduciary bonded by a surety company authorized to do business in this state, ten thousand dollars, such fiduciary shall not be required to render such account unless so ordered by the court.

(1949 Rev., S. 7052; 1961, P.A. 139; 1969, P.A. 209, S. 2; P.A. 77-430; 77-614, S. 161, 610; P.A. 80-476, S. 88; 80-482, S. 336, 348; P.A. 87-9, S. 2, 3; P.A. 99-84, S. 16; P.A. 03-84, S. 30; P.A. 16-7, S. 9; P.A. 17-136, S. 20.)

History: 1961 act specified that estates of less than $10,000 held by corporate fiduciaries under supervision of bank commissioner or by other fiduciaries bonded by surety companies authorized to do business in state are not subject to annual account requirement; 1969 act required that accounts be rendered “at least once during each three-year period” rather than annually; P.A. 77-430 authorized more frequent filing if required by will or trust instrument and added provisions re filing and hearing procedure for periodic accounts; P.A. 77-614 replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division within that department, effective January 1, 1979; P.A. 80-476 divided section into Subsecs. and rephrased provisions; P.A. 80-482 restored banking commissioner and division to prior independent status and abolished the department of business regulation; (Revisor's note: Pursuant to P.A. 87-9 “banking commissioner” was changed editorially by the Revisors to “commissioner of banking”); Sec. 45-268 transferred to Sec. 45a-177 in 1991; P.A. 99-84 amended Subsec. (a) by deleting “under oath” and inserting “signed under penalty of false statement”; P.A. 03-84 changed “Commissioner of Banking” to “Banking Commissioner” in Subsec. (c), effective June 3, 2003; P.A. 16-7 amended Subsec. (a) by deleting provisions re persons appointed by court to sell land of minors to render periodic account of trust and court to provide notice of, examination of and hearing on periodic account and by replacing “to do so” with “by the court or” re rendering of periodic account more frequently than once during each three-year period, deleted former Subsec. (b) re inclusion of inventory of trust estate in periodic account, redesignated existing Subsec. (c) as Subsec. (b) and made a technical change; P.A. 17-136 amended Subsec. (a) by designating existing provision re those entrusted with testamentary trusts as Subdiv. (1), adding Subdiv. (2) re conservators of person authorized under Sec. 45a-656(a) to manage finances of conserved person and adding Subdiv. (3) re guardians of adults with intellectual disability authorized under Sec. 45a-677a to manage finances of protected person, effective January 1, 2018.