Unless the court makes specific findings as to the reasons a bond is not required
in the present case, the court shall require a conservator to furnish a bond conditioned
upon faithful discharge of all duties of the conservatorship according to law, with
sureties as it may specify. In the alternative, the court may impose restrictions upon the conservator's access
to, or transfer of, the assets of the conservatorship estate. Unless otherwise directed by the court, the cost of the bond shall be charged to
the protected person's estate and the bond must be in the amount of the aggregate
capital value of the property of the estate in the conservator's control, plus one
year's estimated income, and minus the value of assets deposited under arrangements
requiring an order of the court for their removal and the value of any real property
that the fiduciary, by express limitation, lacks power to sell or convey without court
authorization. The court, in place of sureties on a bond, may accept collateral for the performance
of the bond, including a pledge of securities or a mortgage of real property.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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