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Current as of January 01, 2024 | Updated by FindLaw Staff
If bond is required and the provisions of the will or order do not specify the amount, unless stated in that person's application or petition, the person qualifying shall file a statement under oath with the court indicating that person's best estimate of the value of the personal estate of the decedent and of the income expected from the personal and real estate during the next year, and shall execute and file a bond with the court, or give other suitable security, in an amount not less than the estimate. The court shall determine that the bond is duly executed by a corporate surety, or one or more individual sureties whose performance is secured by pledge of personal property, mortgage on real property, or other adequate security. The court may permit the amount of the bond to be reduced by the value of assets of the estate deposited with a domestic financial institution, as defined in section 30.1-31-02, in a manner that prevents their unauthorized disposition. On petition of the personal representative or another interested person, the court may excuse a requirement of bond, increase or reduce the amount of the bond, release sureties, or permit the substitution of another bond with the same or different sureties.
Cite this article: FindLaw.com - North Dakota Century Code Title 30.1. Uniform Probate Code § 30.1-17-04. (3-604) Bond amount--Security--Procedure--Reduction - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-30-1-uniform-probate-code/nd-cent-code-sect-30-1-17-04/
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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