Text of the provision
Sec. 5. Trustee must file bond. — Before entering on the duties of his trust, a trustee shall file with the clerk of the court having jurisdiction of the trust a bond in the amount fixed by the judge of said court, payable to the Government of the Philippines and sufficient and available for the protection of any party in interest, and a trustee who neglects to file such bond shall be considered to have declined or resigned the trust; but the court may until further order exempt a trustee under a will from giving a bond when the testator has directed or requested such exemption and may so exempt any trustee when all persons beneficially interested in the trust, being of full age, request the exemption. Such exemption may be cancelled by the court at any time and the trustee required to forthwith file a bond.
Rules of Court, Rule 98, Section 5. Reproduced verbatim and verified word-for-word against four independently published renderings of the Rules of Court — only text on which at least two independent publishers agree is shown.
About this section
This is Section 5 of Rule 98 (Trustees) of the Rules of Court of the Philippines — the Special Proceedings rules (Rules 72–109), in force since January 1, 1964. The text above is reproduced verbatim.
Related provisions
- Section 6 — Conditions included in bond.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.