<br><br>62.060 Bonds of officers, depositories and fiduciaries -- Form -- Conditions -- <br>Amount -- Renewal. <br>(1) Except as provided by KRS 395.130, the bond required by law to be executed and <br>given by any public official, depository of public funds, or any fiduciary, and other <br>bond required by law for the discharge or performance of any public or fiducial <br>office, trust or employment, shall be a covenant to the Commonwealth of Kentucky <br>from the principal and surety or sureties that the principal will faithfully discharge <br>his duties, and there shall be no other obligation in the bond. The bond shall be <br>limited in a definite penal sum, which shall be determined and fixed by the officer <br>or officers whose duty it is to approve the bond. The bond of each fiduciary shall be <br>fixed in a penal sum of not less than the estimated value of the estate which the <br>fiduciary is in charge of. The officer or officers taking any bond mentioned in this <br>section may, at any time when it appears to be to the interest of the obligee, increase <br>the penal sum of the bond or require a renewal thereof with other or additional <br>sureties. <br>(2) A bond or obligation taken in any form other than that required by subsection (1) <br>shall be binding on the parties thereto according to its terms. <br>(3) This section shall not apply to bonds given pursuant to KRS 62.160 to 62.200. <br>History: Amended 1972 Ky. Acts ch. 203, sec. 3. -- Amended 1946 Ky. Acts ch. 27, <br>sec. 6. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from <br>Ky. Stat. secs.186d-1, 3751. <br><br>