§ 29-1-19-9 — Bond of guardian

Indiana § 29-1-19-9

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 19: Department of Veterans Affairs

Text

(a) Upon appointment, a guardian shall execute
and file bond to be approved by the court in an amount not less than the
estimated value of the personal estate and anticipated income of the
protected person during the ensuing year. The bond shall be in the form
and be conditioned as required of guardians appointed under IC 29-3-7.
The court may from time to time require the guardian to file an
additional bond. Any bank or trust company organized under the laws
of the state, or of the United States of America, and operating a bank
or trust company, which is located within Indiana, which is now acting,
or which may act as a guardian under this chapter, is exempt from
furnishing the bond required in this subsection to the same extent and
in the same manner as a bank or trust company, when acting in a
fiduciary capacity, is relieved from filing a bond under the provisions
of IC 28-2-7.
(b) Where a bond is tendered by a guardian with personal sureties,
there shall be at least one (1) or more surety or sureties and the
guardian or sureties shall file with the court a certificate under oath
which shall describe the property owned, both real and personal, and
shall state that each is worth the sum named in the bond as the penalty
thereof over and above all the guardian's debts and liabilities and the
aggregate of other bonds on which the guardian is principal or surety
and exclusive of property exempt from execution. The court may
require additional security or may require a corporate surety bond, the
premium thereon to be paid from the ward's estate.
Formerly: Acts 1953, c.112, s.2009; Acts 1961, c.93, s.1; Acts
1971, P.L.413, SEC.1. As amended by Acts 1982, P.L.171, SEC.65;
P.L.33-1989, SEC.46.