Michigan § 700.7702 - Trustee's bond.
Full text of Michigan Michigan Compiled Laws § 700.7702 — Trustee's bond., with citation guidance and answers to common questions.
§ 700.7702. Trustee's bond.
(1) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the trust beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
(2) The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.
(3) A financial institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust.
Frequently Asked Questions About Michigan § 700.7702
What does Michigan Compiled Laws § 700.7702 cover?
Section 700.7702 ("Trustee's bond.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 700.7702?
A common citation format is "Michigan Compiled Laws § 700.7702" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 700.7702 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.