§ 19-3-22 — Hearing; Order

Alabama § 19-3-22

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

Text

On the day appointed, or on any other day to which such application may be continued, if it appears that the applicant has a real, bona fide interest in the administration of the trust, and that by the terms thereof, the trustee is not required to give bond with surety, and that a majority in number and interest of all the creditors for whose benefit such trust may be created do not oppose such application, the register or clerk must make and enter an order requiring such trustee to give bond with at least two good and sufficient sureties, payable to such register or clerk, in such sum as the register or clerk may prescribe, subject to change on application to the judge, with condition for the faithful discharge of all the duties of such trustee, which bond must be approved, filed and recorded in his office.

Legislative History

(Code 1886, §3551; Code 1896, §4154; Code 1907, §6056; Code 1923, §10393; Code 1940, T. 58, §10.)