29A-5-111. Filing of acceptance and bond--Amount of bond--Notice of nonrenewal.

307 words·~1 min read·/sd/title-29/chapter-29-5/29a-5-111

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The appointment of a guardian or conservator does not become effective nor may letters of guardianship or conservatorship issue until the guardian or conservator has filed an acceptance of office and any required bond.

The court may not require the filing of a bond by a guardian except for good cause shown.

The court shall determine whether the filing of a bond by a conservator is necessary. In determining the necessity for or amount of a conservator's bond, the court shall consider:

(1)The value of the personal estate and annual gross income and other receipts within the conservator's control;

(2)The extent to which the estate has been deposited under an arrangement requiring an order of court for its removal;

(3)Whether an order has been entered waiving the requirement that accountings be filed and presented or permitting accountings to be filed less frequently than annually;

(4)The extent to which the income and receipts are payable directly to a facility responsible for or which has assumed responsibility for the care or custody of the minor or protected person;

(5)Whether a guardian has been appointed, and if so, whether the guardian has presented reports as required;

(6)Whether the conservator was appointed pursuant to a nomination which requested that bond be waived; and

(7)Any other factors which the court deems appropriate.

Any required bond shall be with such surety and in such amount and form as the court may order. The court may order additional bond or reduce bond whenever it considers such modification to be in the best interests of the minor, the protected person, or the estate.

The surety or sureties of the bond must immediately serve notice to the court and to the minor, the protected person, or the estate if the bond is not renewed by the guardian or conservator.