(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.
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Terms Used In Alabama Code 19-3B-702

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Trustee: A person or institution holding and administering property in trust.
(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.
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