Rule 605. Bond

(a) REQUIREMENT. Except as provided in Rule 605(d), a trustee is required to

execute a bond, with surety approved by the court, conditioned on performance of the

trustee’s duties, only if:

(1) the court finds that a bond is needed to protect the interests of the beneficiaries, or

(2) the terms of the trust require a bond and the court has not dispensed with the

requirement.

(b) AMOUNT OF BOND. When a bond is required, the court must specify the amount

of the bond considering, among other factors, the value of the trust property, the annual

income of the trust, the trust property subject to the bond, and its liabilities.

(c) MODIFICATION AND TERMINATION. The court may modify or terminate the bond

at any time.

(d) EXCEPTION. No bond is required from a regulated financial institution, as defined

in D.C. Code, § 26-551.02(18) (2021 Supp.), or a national bank as provided in 12

U.S.C. § 92a(f), even if required by the terms of the trust.