§ 29-1-7.5-2.5 — Personal representative's bond

Indiana § 29-1-7.5-2.5

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 7.5: Unsupervised Administration and Claims Against

Text

5. (a) A personal representative is not
required to execute and file a bond relating to the duties of the personal
representative's office under this chapter unless:
(1) the will provides for the execution and filing of a bond; or
(2) the court finds, on the court's own motion or on motion by an
interested person, that a bond is necessary to protect creditors,
heirs, devisees, and legatees.
(b) If a bond is required under subsection (a):
(1) the amount of the bond shall be determined by the court; and
(2) the bond shall be administered;
under IC 29-1-11.
(c) If a personal representative is not an Indiana resident or ceases
to be an Indiana resident, the personal representative at the discretion
of the court shall execute and file a bond under IC 29-1-10-1. The
amount of the bond may be increased, decreased, or reduced to zero (0)
at the court's discretion.

Legislative History

As added by P.L.130-1992, SEC.2. Amended by P.L.38-2023, SEC.7; P.L.9-2024, SEC.493.