(a) 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 beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
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Terms Used In Hawaii Revised Statutes 554D-702

  • Court: means the circuit court in this State having jurisdiction over all subject matter relating to trusts. See Hawaii Revised Statutes 554D-103
  • Interests of the beneficiaries: means the beneficial interests provided in the terms of the trust. See Hawaii Revised Statutes 554D-103
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • State: includes an Indian tribe or band recognized by federal law or formally acknowledged by a state. See Hawaii Revised Statutes 554D-103
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, and successor trustee, and a cotrustee. See Hawaii Revised Statutes 554D-103
(b) 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.
(c) A bank or trust company qualified under chapter 412 to do trust business in this State need not give bond, even if required by the terms of the trust.

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