(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.Tex. Prop. Code § 113.058
Amended By Acts 2007, 80th Leg., R.S., Ch. 451, Sec. 6, eff. 9/1/2007.