§ 15-12-605 — Demand for bond by interested person

Subject to the provisions
of sections 15-12-603 and 15-12-604, and to a determination by the court that bond
is desirable, any person apparently having an interest worth in excess of five
thousand dollars, or any creditor having a claim in excess of five thousand dollars,
may make a written demand that a personal representative give bond. The demand
must be filed with the registrar and a copy mailed to the personal representative, if
appointment and qualification have occurred. Thereupon, the court may require
bond in such amount as it may determine and notify the personal representative to
file the same, but the requirement ceases if the person demanding bond ceases to
be interested in the estate. After he has received notice and until the filing of the
bond or cessation of the requirement of bond, the personal representative shall
refrain from exercising any powers of his office except as necessary to preserve
the estate. Failure of the personal representative to meet a requirement of bond by
giving suitable bond within thirty days after receipt of notice is cause for his
removal and appointment of a successor personal representative.

Legislative History

Source: L. 73: R&RE, p. 1581, � 1. C.R.S. 1963: � 153-3-605.