(a) The following rules apply to any bond required:
(1) Sureties and the conservator are jointly and severally liable;
(2) By executing the bond of a conservator, a surety submits to the jurisdiction of
the court that issued letters to the primary obligor in any proceeding pertaining
to the fiduciary duties of the conservator in which the surety is named as a party.
Notice of any proceeding shall be sent or delivered to the surety at the address shown
in the court records at the place where the bond is filed and to any other address
then known to the petitioner;
(3) On petition of a successor conservator or any interested person, a proceeding
may be brought against a surety for breach of the obligation of the bond of the conservator;
(4) The bond of the conservator may be proceeded against until liability under the
bond is exhausted.
(b) A proceeding may not be brought against a surety on any matter as to which an
action or proceeding against the primary obligor is barred.
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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