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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 5807.02 | Bond of trustee.

Ohio Revised Code
/
Title 58 Trusts
/
Chapter 5807 Trustees
 
Effective:
January 1, 2007
Latest Legislation:
House Bill 416 - 126th General Assembly
PDF:
Download Authenticated PDF
 

(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.

Available Versions of this Section