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2019 Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 501C — Trusts
Section 501C.0702 — Trustee's Bond.
Universal Citation: MN Stat § 501C.0702 (2019)
501C.0702 TRUSTEE'S BOND.
(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) A regulated financial-service institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust.
History: 2015 c 5 art 7 s 2
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