Maine § 18-B §702 Trustee's bond

Maine Statutes

§ 18-B §702 — Trustee's bond

Maine § 18-B §702

Title 18-BTRUSTS

Part 1MAINE UNIFORM TRUST CODE

Ch. 7OFFICE OF TRUSTEE

This text of Maine § 18-B §702 (Trustee's bond) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 18-B, § 18-B §702 (2026).

Text

1.Bond. 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.Amount. 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.Financial institution. A financial institution qualified to do trust business in this State need not give bond, even if required by the terms of the trust.

4.Cost charged to trust. Unless otherwise directed by the court, the cost of a bond is charged to the trust.

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1.
Bond.
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.
Amount.
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.
Financial institution.
A financial institution qualified to do trust business in this State need not give bond, even if required by the terms of the trust.
4.
Cost charged to trust.
Unless otherwise directed by the court, the cost of a bond is charged to the trust.