1. When, by the terms of the will, the testator has directed or expressed the desire that no bond shall be required, such direction or expression shall be construed to be a waiver of the posting of a bond by the fiduciary for all purposes, and no bond shall be required unless the court for good cause finds it proper to require one; if no bond is initially required, the court may nevertheless, for good cause, at any subsequent time require that a bond be given.
2. Unless otherwise required by the instrument creating the relationship, or by order of court, bank and trust companies shall not be required to provide any bond.
[C51, § 1276, 1316, 1317; R60, § 2308, 2348, 2349; C73, § 2321, 2350, 2362, 2363; C97, § 3267, 3268, 3293, 3301; S13, § 3268; C24, 27, 31, 35, 39, § 11828, 11838, 11876, 11887; C46, 50, 54, 58, 62, § 631.10, 632.7, 633.32, 633.43; C66, 71, 73, 75, 77, 79, 81, § 633.172]
86 Acts, ch 1131, § 2
Referred to in § 633.170, 633.175
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