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§ 13-208. Bond requirements

West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 13. Protection of Minors, Disabled Persons, Susceptible Adults, and Older Adults (Refs & Annos)
Subtitle 2. Protection of Property (Refs & Annos)
Effective: October 1, 2019
MD Code, Estates and Trusts, § 13-208
§ 13-208. Bond requirements
Noncorporate guardians
(a) Where the instrument nominating a guardian excuses a noncorporate guardian from furnishing bond, the court shall not require a bond unless exceptional circumstances are shown to exist which make it necessary to require a bond for the safety of those interested in the administration of the estate.
Corporate guardians
(b) A corporate guardian shall not be required to furnish bond.
Discretion of court
(c) In the case of a noncorporate guardian, including a substituted or successor or reinstated guardian nominated by the court or nominated under an instrument which is silent as to bond, the court may, subject to subsection (d) of this section, require a bond if, in its discretion, it finds it necessary for the safety of those interested in the administration of the estate.
Guardian estate not exceeding $10,000
(d) In a guardian estate consisting entirely of cash, deposited as provided in the rules, securities or real property, or any combination of them which cannot be transferred by the guardian without the approval of the court, not exceeding $10,000, the court shall not require a guardian to furnish or continue in effect a bond, unless exceptional circumstances are shown to exist.
Amount of bond or other security
(e)(1) The penalty of the bond may not be greater than the aggregate value of the property of the estate under the control of the guardian, less the value of securities or money deposited in a financial institution as defined in § 13-301(h) of this title under arrangements requiring an order of the court for their removal, and the value of any land which the guardian, by express limitation of power, lacks power to sell or convey without court authorization.
(2) The court may, in lieu of sureties on a bond, accept other security for the performance of the bond, including a pledge of securities or a mortgage of land.
(3) The court may at any time, subject to the maximum penalty provided by this section, require the amount of the bond, or the type or value of security, to be changed.
(4) The approval of a new bond may not discharge a bond filed previously from any liability which may have accrued before approval.
Terms of bond
(f) The terms of any bond shall be as provided by the Maryland Rules.

Credits

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2000, c. 61, § 7, eff. April 25, 2000; Acts 2010, c. 256, § 1, eff. Oct. 1, 2010; Acts 2010, c. 257, § 1, eff. Oct. 1, 2010; Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
Formerly Art. 93A, § 208.
MD Code, Estates and Trusts, § 13-208, MD EST & TRST § 13-208
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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