(a) REQUIREMENT. Except as provided in Rule 605(d), a trustee is required to execute a bond, with surety approved by the court, conditioned on performance of the trustee's duties, only if: (1) the court finds that a bond is needed to protect the interests of the beneficiaries, or(2) the terms of the trust require a bond and the court has not dispensed with the requirement.(b) AMOUNT OF BOND. When a bond is required, the court must specify the amount of the bond considering, among other factors, the value of the trust property, the annual income of the trust, the trust property subject to the bond, and its liabilities.(c) MODIFICATION AND TERMINATION. The court may modify or terminate the bond at any time.(d) EXCEPTION. No bond is required from a regulated financial institution, as defined in D.C. Code, § 26-551.02(18) (2021 Supp.), or a national bank as provided in 12 U.S.C. § 92a(f), even if required by the terms of the trust.Adopted by Order dated March 4, 2022, effective 8/22/2022.