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28-65-215. Bond of guardian.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-65-215. Bond of guardian.
(a) If the guardianship is to be of the person only, the amount of the bond shall not exceed one thousand dollars ($1,000), or the court may dispense with the bond.
(b) At every accounting, the court shall inquire into the sufficiency of the bond and of the sureties, and, if either or both are found insufficient, the guardian shall be ordered to file a new or additional bond.
(c) If, by the terms of a will, the testator expresses the wish that no bond be required of the person whom he or she requests to be appointed guardian, that person may be relieved of giving a bond with respect to property given by the will to the incapacitated person.
(d) Section 28-48-201 et seq. with respect to the bonds of personal representatives shall be applicable to the bonds of guardians, except that in fixing the amount of the guardian's bond, the value of the real property, as distinguished from the income arising therefrom, unless it is sold, shall not be taken into consideration and shall not constitute property which may reasonably be expected to pass through the hands of the guardian.
(e) Further, when the ward's estate is all in cash, the court may dispense with the bond if the guardian deposits the entire estate on interest in a bank in Arkansas insured by the Federal Deposit Insurance Corporation or in a savings and loan association in Arkansas insured by the Federal Savings and Loan Insurance Corporation or in a credit union in Arkansas insured by the National Credit Union Administration and the value of the estate is not greater than the amount of the maximum insurance provided by law for a single depositor, and the bank or savings and loan association shall file with the probate clerk of the circuit court an agreement not to permit any wit
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-65-215
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:28-65-215
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2eef5328991a7c52adebf4458d5ffe0af607bd06cfb835bdcf68d15cce718d58
Source location: content.xml paragraph 8866
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28-65-215. Bond of guardian.
(a) If the guardianship is to be of the person only, the amount of the bond shall not exceed one thousand dollars ($1,000), or the court may dispense with the bond.
(b) At every accounting, the court shall inquire into the sufficiency of the bond and of the sureties, and, if either or both are found insufficient, the guardian shall be ordered to file a new or additional bond.
(c) If, by the terms of a will, the testator expresses the wish that no bond be required of the person whom he or she requests to be appointed guardian, that person may be relieved of giving a bond with respect to property given by the will to the incapacitated person.
(d) Section 28-48-201 et seq. with respect to the bonds of personal representatives shall be applicable to the bonds of guardians, except that in fixing the amount of the guardian's bond, the value of the real property, as distinguished from the income arising therefrom, unless it is sold, shall not be taken into consideration and shall not constitute property which may reasonably be expected to pass through the hands of the guardian.
(e) Further, when the ward's estate is all in cash, the court may dispense with the bond if the guardian deposits the entire estate on interest in a bank in Arkansas insured by the Federal Deposit Insurance Corporation or in a savings and loan association in Arkansas insured by the Federal Savings and Loan Insurance Corporation or in a credit union in Arkansas insured by the National Credit Union Administration and the value of the estate is not greater than the amount of the maximum insurance provided by law for a single depositor, and the bank or savings and loan association shall file with the probate clerk of the circuit court an agreement not to permit any withdrawal from the deposit except on authority of a circuit court order.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-48-201. Bond required.
(a) Prior to the issuance of letters and except as provided in § 28-48-206, the court or the clerk, subject to approval or rejection by the court, shall take a bond from the personal representative with two (2) or more sufficient sureties who are residents of this state, or a corporate surety authorized to do business in this state, for the benefit of the interested parties. The bond shall be in an amount fixed by the court not less than double the amount or, if the surety is corporate, then not less than the amount, of the estimated value of the property which may reasonably be expected to pass through the hands of the personal representative.
(b) When two (2) or more persons are appointed personal representatives of the same estate and are required by the provisions of the Probate Code to give a bond, the court may require either a separate bond from each or one (1) bond from all of them.
(c) No personal representative shall be deemed a surety for another personal representative unless the terms of the bond so provide.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-48-201
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. The source passage cites 28-48-201. This identifies an authority to review, not proof of applicability.