Bond required when assets deposited with bank or trust company serving as co-fiduciary When a bank or trust company is a fiduciary and is... · as in force on May 31, 2026
§ 804. Bond required when assets deposited with bank or trust company
serving as co-fiduciary
When a bank or trust company is a fiduciary and is nominated to serve or is serving with one or more individual fiduciaries the court may make an order directing the deposit of assets with the bank or trust company upon such terms and upon the giving of such bond by the individual fiduciaries as it deems advisable.
When a bank or trust company serves as fiduciary with individual co-fiduciaries, the court may order estate assets deposited with the institution on stated terms and require the individual fiduciaries to post a bond the court considers advisable. ★
Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.
This provision appears in Volume 1 — The Surrogate's Court in Plain English; Volume 2 — The Surrogate's Court Procedure Act; Volume 5 — Your Career: Surrogate's Court in Plain English.