§ 28-48-201 — Bond

Arkansas § 28-48-201

• Jurisdiction: Arkansas
• Title: 28

Text

(a) Prior to the issuance of letters of administration or at any time during the pendency of the matter, the court may require a bond from the personal representative with a corporate surety authorized to do business in this state for the benefit of the interested parties, or such other bond that the court deems appropriate. (b) (1) If a person or entity asserting a claim against the estate or having or claiming any interest in the estate files a written demand, the court shall: (A) Immediately direct that a bond be secured or increased; or (B) Hold a hearing at the earliest reasonable date to consider whether a bond shall be secured or increased and, if a bond will be secured or increased, the amount of the bond or increase of bond. (2) In the event that a bond is ordered or increased by the court upon written demand under subdivision (b)(1)(A) of this section, the personal representative may request an immediate hearing for reconsideration of the bond. (c) When two (2) or more persons are appointed personal representatives of the same estate and are required to give a bond, the court may require either a separate bond from each or one (1) bond from all of them.

Legislative History

Amended by Act 2023, No. 326,§ 3, eff. 8/1/2023. Acts 1949, No. 140, §§ 80, 84; A.S.A. 1947, §§ 62-2211, 62-2215.