475.420 - Qualifications and bond of guardian.

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1.Upon the appointment of a guardian, he shall execute and file a bond to be approved by the court in an amount not less than the estimated value of the personal estate and anticipated income of the ward during the ensuing year.The bond shall be in the form and be conditioned as required of guardians appointed under the general guardianship laws of this state.The court may from time to time require the guardian to file an additional bond.

2.Where a bond is tendered by a guardian with personal sureties, there shall be at least two such sureties and they shall file with the court a certificate under oath which shall describe the property owned, both real and personal, and shall state that each is worth the sum named in the bond as the penalty thereof over and above all his debts and liabilities and the aggregate of other bonds on which he is principal or surety and exclusive of property exempt from execution.The court may require additional security or may require a corporate surety bond, the premium thereon to be paid from the ward's estate.

(L. 1947 V. I p. 4 § 9)