- (1) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
- (2) The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.
- (3) A regulated financial-service institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust.
History: En. Sec. 80, Ch. 264, L. 2013.