North Dakota § 59-15-02 (702) Trustee's bond

North Dakota Statutes

§ 59-15-02 — (702) Trustee's bond

North Dakota·Title 59 Trusts, Uses, and Powers·Ch. 59-15 Office of Trustee

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 bank or trust company qualified to act as a trustee in this state need not give bond, even if required by the terms of the trust.

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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 bank or trust company qualified to act as a trustee in this state need not give bond,
even if required by the terms of the trust.

North Dakota § 59-15-02 ((702) Trustee's bond) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.