2006 Michigan Compiled Laws - Mich. Comp. Laws § 700.7304 Duty to provide bond.
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Act 386 of 1998 700.7304 Duty to provide bond. Sec. 7304. A trustee need not provide bond to secure performance of the trustee's duties unless required by the terms of the trust, reasonably requested by a beneficiary, or found by the court to be necessary to protect the interests of the beneficiaries who are not able to protect themselves and whose interests are not otherwise adequately represented. On petition of the trustee or an interested person, the court may excuse a requirement of bond, reduce the amount of the bond, release the surety, or permit the substitution of another bond with the same or different sureties. If bond is required, the bond shall be filed in the court of registration or another appropriate court in an amount and with the sureties and liabilities as provided in sections 3604 and 3606 relating to the bond of a personal representative.
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