§ 15-14-415 — Bond

Unless the court makes specific findings as to the reasons
a bond is not required in the present case, the court shall require a conservator to
furnish a bond conditioned upon faithful discharge of all duties of the
conservatorship according to law, with sureties as it may specify. In the alternative,
the court may impose restrictions upon the conservator's access to, or transfer of,
the assets of the conservatorship estate. Unless otherwise directed by the court,
the cost of the bond shall be charged to the protected person's estate and the bond
must be in the amount of the aggregate capital value of the property of the estate
in the conservator's control, plus one year's estimated income, and minus the value
of assets deposited under arrangements requiring an order of the court for their
removal and the value of any real property that the fiduciary, by express limitation,
lacks power to sell or convey without court authorization. The court, in place of
sureties on a bond, may accept collateral for the performance of the bond,
including a pledge of securities or a mortgage of real property.

Legislative History

Source: L. 2000: Entire part R&RE, p. 1817, � 1, effective January 1, 2001 (see � 15-17-103).