                                 CODE OF VIRGINIA

TRUSTEE&#8217;S BOND (§ 64.2-755)

A. Except as otherwise provided in Part A (&#xA7; 64.2-1200 et seq.) of Subtitle
IV, a trustee shall give bond, or bond with surety or other security, to secure
performance of the trustee&#8217;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
the Commonwealth need not give bond, even if required by the terms of the trust.

HISTORY: 2005, c. 935, § 55-547.02; 2012, c. 614.