New Hampshire Statutes
§ 564-B:7-702 — Trustee's Bond
New Hampshire·Title LVI PROBATE COURTS AND DECEDENTS' ESTATES·Ch. 564-B NEW HAMPSHIRE TRUST CODE·Subdivision ARTICLE 7OFFICE OF TRUSTEE
(a)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.
(b)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.
(c)The following entities need not give bond, even if required by the terms of the trust:
(1)Any trust company, bank, or savings association incorporated under the laws of this state, or any national bank or federally chartered savings association duly authorized and located within this state; and
(2)Any bank as defined in RSA 383-A:2-201(a)(3), if that bank is permitted to co
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Legislative History
2004, 130:1, eff. Oct. 1, 2004. 2015, 272:50, eff. Oct. 1, 2015.
Nearby Sections
15
§ 564-B:1-101
Short Title§ 564-B:1-102
Scope§ 564-B:1-103
Definitions§ 564-B:1-104
Knowledge§ 564-B:1-105
Default and Mandatory Rules§ 564-B:1-106
Common Law of Trusts; Principles of Equity§ 564-B:1-107
Governing Law§ 564-B:1-108
Principal Place of Administration§ 564-B:1-109
Methods and Waiver of Notice§ 564-B:1-110
Others Treated as Qualified Beneficiaries§ 564-B:1-111
Nonjudicial Settlement Agreements§ 564-B:1-111A
Nonjudicial Dispute Resolution§ 564-B:1-112
Rules of Construction§ 564-B:1-113
Precatory Language§ 564-B:10-1001
Remedies for Breach of Trust