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The Florida Senate

2005 Florida Statutes

Section 737.304, Florida Statutes 2005

737.304  Duty to provide bond.--A trustee need not provide bond to secure performance of his or her duties unless this is required by the trust instrument, reasonably requested by a beneficiary, or found by the court to be necessary to protect the interests of beneficiaries who are not able to protect themselves and whose interests otherwise are not adequately represented. On application of the trustee or other interested person, the court may excuse a requirement of bond, increase or reduce the amount of the bond, release the surety, or permit the substitution of another bond with the same or different sureties. If bond is required, it shall be filed in the clerk's office in the county where the trust has its principal place of business, in amounts and with surety as provided in s. 45.011 and conditioned on the faithful performance of the trust.

History.--s. 1, ch. 74-106; s. 6, ch. 75-221; s. 6, ch. 77-344; s. 1039, ch. 97-102.