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Arizona Revised Statutes Title 14. Trusts, Estates and Protective Proceedings § 14-10702. Trustee's bond

Current as of January 01, 2025 | Updated by Findlaw Staff

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. Notwithstanding the terms of the trust, the following are not required to give a bond:

1. A national banking association.

2. A holder of a banking permit under the laws of this state.

3. A savings and loan association authorized to conduct trust business in this state.

4. A title insurance company qualified to do business under the laws of this state.

5. A trust company holding a certificate to engage in trust business from the state superintendent of banks.

6. The public fiduciary.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 14. Trusts, Estates and Protective Proceedings § 14-10702. Trustee's bond - last updated January 01, 2025 | https://codes.findlaw.com/az/title-14-trusts-estates-and-protective-proceedings/az-rev-st-sect-14-10702/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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