§ 6-05-11 — Bond not required - Power to be surety on judicial bonds - Deposit of securities

North Dakota § 6-05-11

• Jurisdiction: North Dakota
• Title 6: Banks and Banking
• Ch. 6-05: Annuity, Safe Deposit, Surety, and Trust Companies

Text

securities.
No bond or other security, oath, or other qualification is necessary to enable such
corporation to accept any appointment or trust. It is lawful for any such corporation to become
surety upon any bond or undertaking for or on behalf of any person, persons, or corporation, in
any suit, action, or special proceeding, in any court in this state. Whenever a bond or new
sureties on a bond may be required from any person, persons, or corporation, acting in any trust
capacity whatever, if the value of the estate or fund is so great that the judge of the court having
jurisdiction of the proceedings deems it inexpedient to require security in the full amount
prescribed by law, the judge may direct that any securities for the payment of moneys belonging
to the estate or fund be deposited, subject to the order of the person acting in such trust
capacity, countersigned by a judge of said court, with any trust company organized and qualified
to do business under the provisions of this chapter. After such deposit has been made, the
judge may fix the amount of the bond with respect to the value of the remainder only of such
estate or fund.