Cal. PROB § 301

(a) A trust company appointed to act as a personal representative, or guardian or conservator of an estate, may not be required to give a bond. (b) The liability of a trust company and the manner of its making of oaths and affidavits are governed by Article 3 (commencing with Section 1540) of Chapter 12 of Division 1 of, and Section 1587 of, the Financial Code.