2015 ORS
130.605¹
UTC 702. Trustee’s bond
(1) A trustee shall acquire a bond to secure performance of the trustee’s duties only if a bond is required by the terms of the trust or if a court finds that a bond is needed to protect the interests of the beneficiaries. A court may waive a bond required by the terms of a trust if the court finds that a bond is not needed to protect the interests of the beneficiaries.
(2) The court may specify the amount and terms of a bond. The court may modify or terminate any requirement for a bond at any time.
(3) A trust company as defined in ORS 706.008 (Additional definitions for Bank Act) need not give a bond, even if required by the terms of the trust. [2005 c.348 §51]
1 Legislative Counsel Committee, CHAPTER 130—Uniform Trust Code, https://www.oregonlegislature.gov/bills_laws/ors/ors130.html (2015) (last accessed Jul. 16, 2016).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Statutes, Cumulative Supplement - 2015, Chapter 130, https://www.oregonlegislature.gov/bills_laws/ors/ano130.html (2015) (last accessed Jul. 16, 2016).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.