Alabama Code 19-3-20. Right of creditors to apply for order requiring trustee to give bond
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Terms Used In Alabama Code 19-3-20
- circuit: means judicial circuit. See Alabama Code 1-1-1
- property: includes both real and personal property. See Alabama Code 1-1-1
- Trustee: A person or institution holding and administering property in trust.
When an express trust is created for the payment or security of debts and, by the terms thereof, the trustee is not required to give bond with surety, any creditor interested therein may apply to the register or clerk of the circuit court of the county in which the trust property, or the most valuable portion thereof, may be, for an order requiring such trustee to give bond with surety for the faithful administration of the trust.