Texas § PR.113.058 - BOND
Full text of Texas The Texas Constitution § PR.113.058 — BOND, with citation guidance and answers to common questions.
§ PR.113.058. BOND
BOND. (a) A corporate trustee is not required to provide a bond to secure performance of its duties as trustee. (b) Unless the instrument creating the trust provides otherwise, a noncorporate trustee must give bond: (1) payable to the trust estate of the trust, the registry of the court, or each person interested in the trust, as their interests may appear; and (2) conditioned on the faithful performance of the trustee's duties. (c) The bond must be in an amount and with the sureties required by order of a court in a proceeding brought for this determination. (d) Any interested person may bring an action to increase or decrease the amount of a bond, require a bond, or substitute or add sureties. Notwithstanding Subsection (b), for cause shown, a court may require a bond even if the instrument creating the trust provides otherwise. (e) The trustee shall deposit the bond with the clerk of the court that issued the order requiring the bond. A suit on the bond may be maintained on a certified copy. Appropriate proof of a recovery on a bond reduces the liability of the sureties pro tanto. (f) Failure to comply with this section does not make void or voidable or otherwise affect an act or transaction of a trustee with any third person. Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984. Amended by: Acts 2005, 79th Leg., Ch. 148 (H.B. 1190 ), Sec. 14, eff. January 1, 2006. Acts 2007, 80th Leg., R.S., Ch. 451 (H.B. 564 ), Sec. 6, eff. September 1, 2007. SUBCHAPTER C. RESIGNATION OR REMOVAL OF TRUSTEE, AND AUTHORITY OF MULTIPLE AND SUCCESSOR TRUSTEES
Frequently Asked Questions About Texas § PR.113.058
What does The Texas Constitution § PR.113.058 cover?
Section PR.113.058 ("BOND") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § PR.113.058?
A common citation format is "The Texas Constitution § PR.113.058" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § PR.113.058 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.