Indemnity bond when cash and securities of fiduciary account exceed stockholders’ equity or members’ equity in trust company
If the cash and securities that belong to any single fiduciary account exceed the amount of a trust company’s stockholders’ equity or members’ equity, the court that appoints the trust company to the position of trust may require an indemnity bond from the trust company for the amount of cash and securities that exceeds the stockholders’ equity or members’ equity. [Amended by 1973 c.797 §191; 1999 c.59 §219; 2015 c.244 §75]
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