Such trustees shall enter into bond, in such a penalty and with such security as the court may approve, conditioned for the faithful discharge of their trust.
§ 25-21,137.Dissolved corporation; trustees; bond.
Article 21: Special Proceedings and Actions · Not amended since original codification · Last verified July 22, 2026
In one sentenceThis section requires each trustee appointed to wind up a dissolved corporation to post a bond, in an amount and with security the court approves, conditioned on faithfully carrying out the trustee’s duties.
Full Text of § 25-21,137
Source
R.S.1867, Code § 720, p. 519; R.S.1913, § 8344; C.S.1922, § 9296; C.S.1929, § 20-21,128; R.S.1943, § 25-21,137.
Plain-English Summary
Section 25-21,137 backs up the trust created in the previous section with a financial guarantee. The trustees appointed under Section 25-21,136 must enter into bond before taking on their responsibilities, with the court setting the penalty amount and approving the security behind it.
The bond’s condition is specific: faithful discharge of the trustee’s trust. That phrase ties the bond directly to how well the trustee performs the winding-up duties described elsewhere in this article — collecting debts, paying liabilities, filing an inventory, and distributing any surplus. A trustee who falls short of that standard exposes the bond, and the next section explains who can act on it.
Frequently Asked Questions
Do trustees appointed under Section 25-21,136 have to post a bond?
Yes. Section 25-21,137 requires them to enter into bond before carrying out their duties.
Who sets the amount of the bond and approves the security?
The court, which approves both the penalty amount and the security offered.
What is the bond conditioned on?
The faithful discharge of the trustees’ trust — performing their duties in winding up the dissolved corporation properly.
What happens if a trustee breaches that duty?
Section 25-21,138 allows suit on the bond by anyone injured by the trustee’s negligence or wrongful act.
Does each trustee post a separate bond, or do all three share one?
The statute requires the trustees to enter into bond without specifying separate or joint bonds, leaving that detail to the court’s approval of the penalty and security.
Source & verification. Section text and the amendment-history citation are
reproduced verbatim from the Nebraska Legislature, Revisor of Statutes, enacted by the
Nebraska Legislature. Last verified July 22, 2026. ·
Official source
Also known as: trustee bond requirement nebraskacorporate dissolution trustee bondbond penalty court approvalfaithful discharge of the trustsecurity for trustee performance