Before being formally appointed, every guardian or conservator must provide a court-approved bond. This bond protects the interests of the ward or conservatee and ensures the guardian or conservator performs their duties properly. The bond amount typically includes the total estate's personal property value, expected annual income, and annual payments from specific public benefits. It also covers potential costs for recovering the bond, including attorney fees. If personal sureties back the bond, the amount should be twice that of a corporate surety. Specific laws about bonds also apply, unless they conflict with this statute.

If a conservator or guardian finds out that the bond they've posted is too low according to the rules, they must quickly apply to the court to increase it. If they have a lawyer, the lawyer should also help with this process.

If a court requires an extra bond when reviewing a financial account, the approval of the account and any related decisions, like fee approvals, won't take effect. The court will also not officially record the order until the extra bond is provided.

This law section states that in a conservatorship proceeding, the court generally cannot waive or reduce the amount of a bond unless there is a good reason and it is determined that the conservatee won't be harmed by the waiver or reduction. Good reason isn't just because the conservator had a bond in a previous case.

If the conservatee, who understands the implications, themselves waives the bond requirement, the court may allow a lower bond than usually required.

If someone is appointed as a guardian or conservator responsible only for a person's care (not their finances), they typically don't have to provide a financial guarantee, known as a bond, unless the court specifically asks for it.

This law allows a court to waive the requirement for a bond if it's likely that the estate will meet specific financial conditions throughout its duration. However, if these conditions are not met, the court must then require a bond unless it finds a solid reason not to, referencing another legal section for guidance.

If someone nominates a guardian and decides to waive the requirement for the guardian to file a bond (a financial guarantee), then the guardian does not need to submit a bond unless the court decides otherwise.

This law specifies that for certain nonprofit charitable corporations, the surety (a company that guarantees the obligations under a bond) must be a surety insurer that is officially recognized by the state.

This law states that when two or more people are appointed as joint guardians or conservators, the court can require them to provide a bond. This bond can either be separate bonds for each person, a single joint bond for all, or a mix of both. If they choose a joint bond, then each person is individually responsible (jointly and severally) for the entire bond amount.

In a conservatorship proceeding, the court usually requires a separate bond for each individual being protected, unless their assets are mixed together, in which case one bond can cover everything. In guardianship cases with multiple wards (people being protected), the court can decide to require separate bonds for each ward, one bond covering multiple wards, or a mix of both options.

This law discusses how a court may handle the bond amount required for guardians or conservators, particularly when estate property is deposited with a trust company or financial institution. If the estate includes property that won't be withdrawn without court permission, the court can either exclude this property when setting the bond amount or reduce the bond amount to a reasonable level.

Additionally, before a guardian or conservator is officially appointed, they can transfer property or money to a trust company or deposit money in a secured account at a financial institution. If this is done, they must provide the court with a receipt and an agreement stating the property won't be withdrawn without court approval. Institutions holding such deposits are protected as if the depositor were already officially in charge of the estate.

If a guardian or conservator wants to lower the amount of a court-required bond, they need to provide a detailed statement about the estate's condition. Normally, the bond amount can't be lowered below a specific level unless there's a good reason. However, the court can still decide to reduce the bond amount, even without notifying others, as allowed under a different section.

If a guardian or conservator sells property from an estate or takes out a loan secured by a mortgage on estate property, they usually need to provide a higher bond amount as determined by the court. This bond is a form of insurance to protect the estate's assets. The increased bond requirement takes into account money from the sale or loan. If the court requires an additional bond, the sale or loan process cannot be completed until that bond is submitted.

This section allows a legal action to be filed against the sureties on a bond if the bond's conditions are broken, benefiting the ward, conservatee, or anyone with an interest in the estate. However, such action must start within four years from when the guardian or conservator is either discharged or a removal order becomes final, whichever happens later. Additionally, any action against the sureties must be initiated within six years from when the relevant judgment or order becomes final, whichever is later, despite other provisions.

If someone requests that a guardian or conservator be required to post a bond, or challenges the adequacy of an existing bond, alleging that they are not managing an estate properly, the court can temporarily suspend the guardian or conservator's powers until a hearing is held.

If a guardian or conservator wants to replace a surety (a person or entity that guarantees the guardian or conservator's duties), they must file a financial account with their application. The court will not allow the replacement unless this account is approved.