32-1-1005 Bond

32-1-1005 . Bond. Before accepting an appointment or acting as a trustee, guardian, or conservator, a foreign trust company shall file a bond with a court of competent jurisdiction in an amount that the court directs, with sufficient sureties, conditioned on the faithful discharge of its duties as trustee, guardian, or conservator. A foreign trust company is not required to file a bond with respect to a trust, other than a trust created by a will, if the trust instrument requests or directs that a bond is not required of the trustee.