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28-48-203. Sureties.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-48-203. Sureties.
(a) Unless authorized by special order of the court, no sheriff, clerk of any court, the deputy of either, the judge of any court, or attorney at law shall be taken as surety on the bond of a personal representative.
(b)(1) A surety upon the bond of a personal representative desiring to be released from subsequent liability shall serve upon the personal representative a notice that, on and after a date fixed in the notice, which date shall be not less than twenty (20) days from the date of service, the surety will withdraw as surety upon the bond. A copy of the notice of withdrawal shall be filed in the court immediately.
(2) On and after 12 noon of the termination date fixed in the notice, the surety shall be released from liability on the bond for subsequent acts or defaults of the personal representative, and, unless before noon of the termination date a new bond with sufficient surety shall be filed and approved, the personal representative shall ipso facto be removed, and a successor shall be appointed.
(3) However, the surety shall not be released from liability until the personal representative shall have furnished a new bond with surety approved by the court, or until his or her successor has been appointed, has qualified, and has taken over the assets of the estate, or until a final settlement of his or her principal has been approved.
(c)(1) The original sureties shall be liable for all breaches of the obligation of the bond up to the time of filing of the new bond and approval of the bond by the court, but they shall not be liable for acts and omissions of the personal representative thereafter.
(2) The new bond shall bind the sureties thereon with respect to acts and omissions of the personal representative from the time when
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-48-203
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:28-48-203
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2c9d3f2fdf58fde45ecc1d39d4d945f38d192eb7f91f8e88b405d97c445ebcfb
Source location: content.xml paragraph 5469
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28-48-203. Sureties.
(a) Unless authorized by special order of the court, no sheriff, clerk of any court, the deputy of either, the judge of any court, or attorney at law shall be taken as surety on the bond of a personal representative.
(b)(1) A surety upon the bond of a personal representative desiring to be released from subsequent liability shall serve upon the personal representative a notice that, on and after a date fixed in the notice, which date shall be not less than twenty (20) days from the date of service, the surety will withdraw as surety upon the bond. A copy of the notice of withdrawal shall be filed in the court immediately.
(2) On and after 12 noon of the termination date fixed in the notice, the surety shall be released from liability on the bond for subsequent acts or defaults of the personal representative, and, unless before noon of the termination date a new bond with sufficient surety shall be filed and approved, the personal representative shall ipso facto be removed, and a successor shall be appointed.
(3) However, the surety shall not be released from liability until the personal representative shall have furnished a new bond with surety approved by the court, or until his or her successor has been appointed, has qualified, and has taken over the assets of the estate, or until a final settlement of his or her principal has been approved.
(c)(1) The original sureties shall be liable for all breaches of the obligation of the bond up to the time of filing of the new bond and approval of the bond by the court, but they shall not be liable for acts and omissions of the personal representative thereafter.
(2) The new bond shall bind the sureties thereon with respect to acts and omissions of the personal representative from the time when the sureties on the original bond are no longer liable therefor or from such prior time as the court directs.
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