§35A‑1231. Terms and conditions of bond; increase on sale of realty orpersonal property.
(a) Before issuingletters of appointment to a general guardian or guardian of the estate theclerk shall require the guardian to give a bond payable to the State. Theclerk shall determine the value of all the ward's personal property and therents and profits of the ward's real estate by examining, under oath, theapplicant for guardianship or any other person or persons. The penalty in thebond shall be set as follows:
(1) Where the bond isexecuted by personal sureties, the penalty must be at least double the value sodetermined by the clerk;
(2) Where the bond isexecuted by a duly authorized surety company, the penalty may be fixed at notless than one and one‑fourth times the value so determined by the clerk;
(3) Provided, however,the clerk may accept bond in estates where the value determined by the clerkexceeds the sum of one hundred thousand dollars ($100,000), in a sum equal toone hundred and ten percent (110%) of the determined value.
The bond must be secured with twoor more sufficient sureties, jointly and severally bound, and must beacknowledged before and approved by the clerk. The bond must be conditioned onthe guardian's faithfully executing the trust reposed in him as such andobeying all lawful orders of the clerk or judge relating to the guardianship ofthe estate committed to him. The bond must be recorded in the office of theclerk appointing the guardian, except, if the guardianship is transferred to adifferent county, it must be recorded in the office of the clerk in the countywhere the guardianship is docketed.
(b) If the court ordersa sale of the ward's real property, or if the guardian expects or offers tosell personal property that he knows or has reason to know has a value greaterthan the value used in determining the amount of the bond posted, the guardianshall, before receiving the proceeds of the sale, furnish bond or increase hisexisting bond to cover the proceeds if real estate is sold, or to cover theincreased value if personal property is sold. The bond, or the increase in theexisting bond, shall be twice the amount of the proceeds of any real propertysold, or of the increased value of any personal property sold, except where thebond is executed by a duly authorized surety company, in which case the penaltyof the bond need not exceed one and one‑fourth times the amount of thereal property sold or the increased value of the personal property sold. (1987,c. 550, s. 1; 1989, c. 473, s. 9.)
§35A‑1231. Terms and conditions of bond; increase on sale of realty orpersonal property.
(a) Before issuingletters of appointment to a general guardian or guardian of the estate theclerk shall require the guardian to give a bond payable to the State. Theclerk shall determine the value of all the ward's personal property and therents and profits of the ward's real estate by examining, under oath, theapplicant for guardianship or any other person or persons. The penalty in thebond shall be set as follows:
(1) Where the bond isexecuted by personal sureties, the penalty must be at least double the value sodetermined by the clerk;
(2) Where the bond isexecuted by a duly authorized surety company, the penalty may be fixed at notless than one and one‑fourth times the value so determined by the clerk;
(3) Provided, however,the clerk may accept bond in estates where the value determined by the clerkexceeds the sum of one hundred thousand dollars ($100,000), in a sum equal toone hundred and ten percent (110%) of the determined value.
The bond must be secured with twoor more sufficient sureties, jointly and severally bound, and must beacknowledged before and approved by the clerk. The bond must be conditioned onthe guardian's faithfully executing the trust reposed in him as such andobeying all lawful orders of the clerk or judge relating to the guardianship ofthe estate committed to him. The bond must be recorded in the office of theclerk appointing the guardian, except, if the guardianship is transferred to adifferent county, it must be recorded in the office of the clerk in the countywhere the guardianship is docketed.
(b) If the court ordersa sale of the ward's real property, or if the guardian expects or offers tosell personal property that he knows or has reason to know has a value greaterthan the value used in determining the amount of the bond posted, the guardianshall, before receiving the proceeds of the sale, furnish bond or increase hisexisting bond to cover the proceeds if real estate is sold, or to cover theincreased value if personal property is sold. The bond, or the increase in theexisting bond, shall be twice the amount of the proceeds of any real propertysold, or of the increased value of any personal property sold, except where thebond is executed by a duly authorized surety company, in which case the penaltyof the bond need not exceed one and one‑fourth times the amount of thereal property sold or the increased value of the personal property sold. (1987,c. 550, s. 1; 1989, c. 473, s. 9.)
§35A‑1231. Terms and conditions of bond; increase on sale of realty orpersonal property.
(a) Before issuingletters of appointment to a general guardian or guardian of the estate theclerk shall require the guardian to give a bond payable to the State. Theclerk shall determine the value of all the ward's personal property and therents and profits of the ward's real estate by examining, under oath, theapplicant for guardianship or any other person or persons. The penalty in thebond shall be set as follows:
(1) Where the bond isexecuted by personal sureties, the penalty must be at least double the value sodetermined by the clerk;
(2) Where the bond isexecuted by a duly authorized surety company, the penalty may be fixed at notless than one and one‑fourth times the value so determined by the clerk;
(3) Provided, however,the clerk may accept bond in estates where the value determined by the clerkexceeds the sum of one hundred thousand dollars ($100,000), in a sum equal toone hundred and ten percent (110%) of the determined value.
The bond must be secured with twoor more sufficient sureties, jointly and severally bound, and must beacknowledged before and approved by the clerk. The bond must be conditioned onthe guardian's faithfully executing the trust reposed in him as such andobeying all lawful orders of the clerk or judge relating to the guardianship ofthe estate committed to him. The bond must be recorded in the office of theclerk appointing the guardian, except, if the guardianship is transferred to adifferent county, it must be recorded in the office of the clerk in the countywhere the guardianship is docketed.
(b) If the court ordersa sale of the ward's real property, or if the guardian expects or offers tosell personal property that he knows or has reason to know has a value greaterthan the value used in determining the amount of the bond posted, the guardianshall, before receiving the proceeds of the sale, furnish bond or increase hisexisting bond to cover the proceeds if real estate is sold, or to cover theincreased value if personal property is sold. The bond, or the increase in theexisting bond, shall be twice the amount of the proceeds of any real propertysold, or of the increased value of any personal property sold, except where thebond is executed by a duly authorized surety company, in which case the penaltyof the bond need not exceed one and one‑fourth times the amount of thereal property sold or the increased value of the personal property sold. (1987,c. 550, s. 1; 1989, c. 473, s. 9.)
