§560:5-416  Terms and requirements of bond. 
(a)  The following rules apply to any bond required:



(1)  Sureties and the conservator are jointly and
severally liable;



(2)  By executing the bond of a conservator, a surety
submits to the jurisdiction of the court that issued letters to the primary
obligor in any proceeding pertaining to the fiduciary duties of the conservator
in which the surety is named as a party.  Notice of any proceeding shall be
sent or delivered to the surety at the address shown in the court records at
the place where the bond is filed and to any other address then known to the
petitioner;



(3)  On petition of a successor conservator or any
interested person, a proceeding may be brought against a surety for breach of
the obligation of the bond of the conservator; and



(4)  The bond of the conservator may be proceeded
against until liability under the bond is exhausted.



(b)  A proceeding may not be brought against a
surety on any matter as to which an action or proceeding against the primary
obligor is barred. [L 2004, c 161, pt of §1]