(1) A special administrator is not required to provide a bond to the court under ORS 113.005 (2) if a will provides that no bond is required of the person appointed as special administrator, but the court may, for good cause, require a bond notwithstanding any provision in a will that no bond is required.
(2) Upon a request by the special administrator, the court may waive the requirement of a bond if:
(a) The request states the reasons why the waiver is requested; and
(b) The request describes the known creditors of the estate, if the special administrator will administer property of the estate.
(3) Upon a request by the special administrator, the court may waive or reduce the requirement of a bond if the court orders the special administrator to provide written confirmation from a financial institution that property of the estate is held by the financial institution subject to withdrawal only on order of the court.