Tex.
Prop. Code Section 113.058
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.
Source:
Section 113.058 — Bond, https://statutes.capitol.texas.gov/Docs/PR/htm/PR.113.htm#113.058 (accessed Apr. 13, 2024).
