On the day appointed, or on any other day to which such application may be continued, if it appears that the applicant has a real, bona fide interest in the administration of the trust, and that by the terms thereof, the trustee is not required to give bond with surety, and that a majority in number and interest of all the creditors for whose benefit such trust may be created do not oppose such application, the register or clerk must make and enter an order requiring such trustee to give bond with at least two good and sufficient sureties, payable to such register or clerk, in such sum as the register or clerk may prescribe, subject to change on application to the judge, with condition for the faithful discharge of all the duties of such trustee, which bond must be approved, filed and recorded in his office.
Structure Code of Alabama
Title 19 - Fiduciaries and Trusts.
Article 2 - Express Trusts for Payment or Security of Debts.
Section 19-3-20 - Right of Creditors to Apply for Order Requiring Trustee to Give Bond.
Section 19-3-21 - Contents of Application; Notice of Hearing.
Section 19-3-22 - Hearing; Order.
Section 19-3-23 - Failure of Trustee to Give Bond; Appointment of Successor.
Section 19-3-24 - Duty of Trustee to Make Inventory; Filing of Copies; Supplemental Inventories.
Section 19-3-25 - Appointment and Duties of Appraisers.
Section 19-3-26 - When Petition for Administration May Be Filed; Contents of Petition.
Section 19-3-28 - Notice to Creditors.
Section 19-3-29 - Presentation of Claims; Verification; Receipt.
Section 19-3-30 - Claims Docket.
Section 19-3-31 - Claims Presented and Not Objected to Stand Allowed.
Section 19-3-32 - Objections to Claims - Filing of Objections.
Section 19-3-33 - Objections to Claims - Time for Hearing; Notice.
Section 19-3-34 - Objections to Claims - Conduct of Hearing; Order Allowing or Disallowing Claim.
Section 19-3-35 - Duty of Trustee to Render Account.
Section 19-3-36 - Time for Settlement; Notice to Creditors.
Section 19-3-37 - Examination and Auditing of Account; Judgment.
Section 19-3-38 - Admissibility of Evidence at Hearings; Exceptions; Appeals.
Section 19-3-39 - Compromise or Sale of Bad Debts.
Section 19-3-40 - Sale of Real Estate; Notice to Creditors.
Section 19-3-41 - When Settlements Compelled; Removal of Trustee and Appointment of Successor.