Massachusetts General Laws ch. 167G sec. 6 – Surety required upon bonds filed by bank as fiduciary
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Section 6. No surety shall be required upon the bonds filed by such bank as fiduciary except that the court making such an appointment other than of a trustee, may, upon application by an interested person, require the bank so appointed to give such security, in addition to that provided by section nine as the court may consider proper, and upon failure of such bank to give the security required, may revoke such appointment and remove such bank.
Terms Used In Massachusetts General Laws ch. 167G sec. 6
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.