Alabama § 19-3-20 Right of Creditors to Apply for Order Requiring Trustee to Give Bond

Alabama Statutes

§ 19-3-20 — Right of Creditors to Apply for Order Requiring Trustee to Give Bond

Alabama·Title 19 Fiduciaries and Trusts·Ch. 3 Trusts·Art. 2 Express Trusts for Payment or Security of Debts

When an express trust is created for the payment or security of debts and, by the terms thereof, the trustee is not required to give bond with surety, any creditor interested therein may apply to the register or clerk of the circuit court of the county in which the trust property, or the most valuable portion thereof, may be, for an order requiring such trustee to give bond with surety for the faithful administration of the trust.

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When an express trust is created for the payment or security of debts and, by the terms thereof, the trustee is not required to give bond with surety, any creditor interested therein may apply to the register or clerk of the circuit court of the county in which the trust property, or the most valuable portion thereof, may be, for an order requiring such trustee to give bond with surety for the faithful administration of the trust.

Alabama § 19-3-20 (Right of Creditors to Apply for Order Requiring Trustee to Give Bond) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.