(a) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond (1) is needed to protect the interests of the beneficiaries; or (2) is required by the terms of the trust and, in the case of noncharitable trusts, the court has not dispensed with the requirement of a bond.
(b) The court may specify the amount of a bond, its liabilities and whether sureties are necessary. Except in the case of a charitable trust, the court may modify or terminate a bond at any time.
(c) In addition to the requirements of this section, a testamentary trustee that is a foreign corporation shall comply with section 45a-206.
(P.A. 19-137, S. 45.)
History: P.A. 19-137 effective January 1, 2020.