A trustee need not provide bond to secure performance of his duties unless required by the terms of the trust, or requested by a beneficiary and found by the court to be necessary to protect the interests of the beneficiaries who are not able to protect themselves and whose interests otherwise are not adequately represented. On petition of the trustee or other interested person the court may excuse a resubstitution of another bond with the same or different sureties. If bond is required, it shall be filed in the court in the place in which the trust has its principal place of administration in amounts and with sureties and liabilities as provided in Sections 62-3-604 and 62-3-606 relating to bonds of personal representatives.