(a) Such refunding bond stands as security for the executor or administrator, should the assets in his hands, after any payment of money or delivery of property under the order of the court, prove insufficient to pay the debts, claims and charges against the estate, and the executor or administrator pays the same; and also as security for the creditors of the estate; and any creditor may bring a civil action thereon.
(b) The extent of the recoveries on such bond is the amount or value of the property received by the legatee or distributee and interest on such amount or value from the date of its receipt; and the value of property received may be proved by the entry of record, made according to the provisions of this division or other evidence; and civil actions may be brought on such bond from time to time in the name of any person aggrieved until the whole amount of the liability, as determined by this section, is recovered.
Structure Code of Alabama
Title 43 - Wills and Decedents' Estates.
Chapter 2 - Administration of Estates.
Article 18 - Settlements and Distributions.
Division 7 - Distribution Before Settlement.
Section 43-2-640 - Authorization to Make Distribution - Distribution by Executor or Administrator.
Section 43-2-642 - Contents of Application.
Section 43-2-643 - Time for Hearing; Notice.
Section 43-2-644 - When Distribution Made; Limit on Amount.
Section 43-2-647 - Refunding Bonds - Bond Stands as Security; Action on Bond.
Section 43-2-646 - Refunding Bonds - Recordation; Transcript as Evidence.
Section 43-2-645 - Refunding Bonds - Required; Terms and Conditions.
Section 43-2-648 - Refunding Bonds - Rights of Parties Among Themselves.