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28-73-702. Trustee's Bond.

(a) A trustee shall give bond to secure performance of the trustee's duties only if a 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) A court may specify the amount of a bond, its liabilities, and whether sureties are necessary. A 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

Acts 2005, No. 1031, § 1.

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Local Government
Arkansas
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Asa Hutchinson
Asa Hutchinson
January 13, 2015 -
Republican
501-682-5080
425 W Capitol Ave. Suite 1620, Little Rock, AR, 72201

Keywords
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