Financial Institutions

CHAPTER 19-3.1
Trust Powers

SECTION 19-3.1-4

§ 19-3.1-4. Fiduciary bond given by financial institution.

In all cases in which a financial institution shall receive and accept appointment as executor, administrator, custodian, conservator, or guardian of any estate, the financial institution shall give bond in the same manner as provided by law in the case of individuals so appointed. The financial institution shall not be required to give surety upon any bond unless some person pecuniarily interested in the estate, before the bond is given, files a written request, in the court of probate making the appointment, that bond with surety be given, in which case the court may require the financial institution to give bond with surety or sureties satisfactory to the court in the manner provided by law in the case of individuals appointed.

History of Section.
(P.L. 1995, ch. 82, § 41.)