§ 30.1-17-06 — (3-606) Terms and conditions of bonds

North Dakota § 30.1-17-06

• Jurisdiction: North Dakota
• Title 30.1: Uniform Probate Code
• Ch. 30.1-17: Personal Representative - Appointment, Control, and Termination

Text

1. The following requirements and provisions apply to any bond required by this chapter:
a. Bonds shall name the state of North Dakota as obligee for the benefit of the
persons interested in the estate and shall be conditioned upon the faithful
discharge by the fiduciary of all duties according to law.
b. Unless otherwise provided by the terms of the approved bond, sureties are jointly
and severally liable with the personal representative and with each other. The
address of sureties shall be stated in the bond.
c. By executing an approved bond of a personal representative, the surety consents
to the jurisdiction of the probate court which issued letters to the primary obligor
in any proceedings pertaining to the fiduciary duties of the personal
representative and naming the surety as a party. Notice of any proceeding shall
be delivered to the surety or mailed to the surety by registered or certified mail at
the surety's address as listed with the court where the bond is filed and to the
surety's address as then known to the petitioner.
d. On petition of a successor personal representative, any other personal
representative of the same decedent, or any interested person, a proceeding in
the court may be initiated against a surety for breach of the obligation of the bond
of the personal representative.
e. The bond of the personal representative is not void after the first recovery but
may be proceeded against from time to time until the whole penalty is exhausted.
2. No action or proceeding may be commenced against the surety on any matter as to
which an action or proceeding against the primary obligor is barred by adjudication or
limitation.