75-5-411. Bond.
Subject to the provisions of Title 7 relating to the bonding requirements for corporate
fiduciaries, the court shall require a conservator to furnish a bond conditioned upon faithful
discharge of all duties of the trust according to law, with sureties as it shall specify, unless the
court dispenses with such bond for good cause shown. Unless otherwise directed, the bond shall
be in the amount of the aggregate capital value of the property of the estate in his control plus one
year's estimated income minus the value of securities and cash deposited under arrangements
requiring an order of the court for their removal and the value of any land which the fiduciary, by
express limitation of power, lacks power to sell or convey without court authorization. The court,
in lieu of sureties on a bond, may accept other security for the performance of the bond, including
a pledge of securities or a mortgage of land.
Amended by Chapter 194, 1977 General Session
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Last revised: Thursday, May 01, 2008