2109.05 Bond - trust created by will.
2109.05 Bond - trust created by will.
When deemed necessary by the probate court and not otherwise directed in the will, a bond, as provided by sections 2109.01 to 2109.58, inclusive, of the Revised Code, shall be required in all trusts created by will and not fully discharged, on the petition of an interested person and after notice to the trustee.
If such a trustee fails to give bond within the time ordered by the court, he shall be removed from his trust or be considered to have declined it. Another person may be appointed in his stead upon giving the required bond.
Effective Date: 10-01-1953