387.070 Bonding of guardian or conservator.
261 words·~1 min read·
/ky/chapter-387/387-070A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as provided in subsections
(2)and
(3)of this section, no guardian or
conservator shall act until the guardian or conservator has been appointed by the
proper District Court, and given bond to the Commonwealth of Kentucky with good
surety, either corporate or personal, approved by the District Court to faithfully
discharge the trust of guardian or conservator. The bond shall be carefully kept by
the clerk of the District Court in a book to be provided for that purpose.
(2)A limited guardian shall be exempt from the requirements of subsection
(1)of this
section.
(a)If the person or entity appointed by the District Court as guardian or
conservator is a person or entity nominated pursuant to KRS 387.040, and the
will of the parent making the nomination requests no surety on the bond of the
guardian or conservator, no surety shall be required on the bond, unless the
District Court deems it imprudent to dispense with surety because of a change
of circumstances since the will was made or for other good cause.
(b)If the District Court directs that the assets of a ward's estate be deposited in a
restricted account as set out in KRS 387.122, the guardian or conservator shall
be exempt from giving surety on his or her bond.
(4)No master or other commissioner whose duty it is to settle the accounts of a
guardian or conservator, nor judge or clerk of a court, or practicing attorney, shall
be accepted as surety on the bond of a guardian or conservator.