Ohio Code 2109.05 – Bond – trust created by will
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When considered necessary by the probate court and not otherwise directed in the will, a bond, as provided by sections 2109.01 to 2109.58 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.
Terms Used In Ohio Code 2109.05
- Bond: includes an undertaking. See Ohio Code 1.02
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Probate: Proving a will
- Trustee: A person or institution holding and administering property in trust.
If the trustee fails to give bond within the time ordered by the court, the court shall remove the trustee from the trust, or the trustee shall be considered to have declined it.