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§ 14.5-702. Bond requirements

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 7. Office of Trustee (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-702
§ 14.5-702. Bond requirements
In general
(a) A trustee shall give bond to secure performance of the duties of the trustee only if the court:
(1) Finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust; and
(2) Has not dispensed with the requirement.
Amount and liabilities of bond
(b)(1) The court may specify the amount of a bond, the liabilities of the bond, and whether sureties for the bond are necessary.
(2) The court may modify or terminate a bond at any time.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-702, MD EST & TRST § 14.5-702
Current through legislation effective July 1, 2020, from the 2020 Regular Session of the General Assembly.
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