(a) The court must require a personal representative or special administrator to furnish bond payable to the judge of probate conditioned upon faithful discharge of all duties of the trust according to law, with sureties as it shall specify. Unless otherwise directed, the bond must be in the amount of the aggregate capital value of the property of the estate in the personal representative's control, plus one year's estimated income, and minus the value of securities deposited under arrangements requiring an order of the court for their removal and the value of any land which the fiduciary, pursuant to Section 43-2-844, lacks power to sell or convey without court authorization. The court, in lieu of sureties on a bond, may accept other collateral for the performance of the bond, including a pledge of securities or any other assets or a mortgage of land.
(b) The court may at any time reduce the bond of the personal representative or require the personal representative to provide additional or larger bond as may seem to be proper or necessary to protect the estate and the interests of persons interested in the estate.
(c) Any individual, who is authorized under Chapter 2 of Title 43, to nominate a personal representative by will, may, by express provision in the will, exempt the personal representative from giving bond; and when a provision to that effect is made, the bond must not be required except in the following cases:
(1) When any guardian, conservator, guardian ad litem, other fiduciary, or any person interested in the estate of the decedent makes an affidavit, showing the affiant's interest and alleging that the interest is, or will be, endangered for want of security.
(2) When, in the opinion of the court, on its own motion, the estate is likely to be wasted, to the prejudice of any person interested therein.
(d) In the cases provided for by subsection (c), upon application for the personal representative to give bond, the personal representative may show cause against applications of the exceptions and must have notice as the court may deem reasonable; but if the personal representative is not in the state, the application may be heard and determined without notice.
Structure Code of Alabama
Title 43 - Wills and Decedents' Estates.
Chapter 2 - Administration of Estates.
Article 20 - Probate Procedure Act.
Section 43-2-830 - Devolution of Estate at Death; Restrictions.
Section 43-2-831 - Time of Accrual of Duties and Powers.
Section 43-2-832 - Priority Among Different Letters.
Section 43-2-834 - Personal Representative to Proceed Without Court Order; Exception.
Section 43-2-835 - Duty of Personal Representative; Inventory and Appraisement.
Section 43-2-836 - Duty of Personal Representative; Supplementary Inventory.
Section 43-2-837 - Duty of Personal Representative; Possession of Estate.
Section 43-2-838 - Power to Avoid Transfers.
Section 43-2-839 - Powers of Personal Representatives; in General.
Section 43-2-840 - Improper Exercise of Power; Breach of Fiduciary Duty.
Section 43-2-842 - Persons Dealing With Personal Representative; Protection.
Section 43-2-843 - Transactions Authorized for Personal Representatives; Exceptions.
Section 43-2-844 - Transactions Authorized for Personal Representatives; Prior Court Approval.
Section 43-2-845 - Powers and Duties of Successor Personal Representative.
Section 43-2-846 - Co-Representatives; When Joint Action Required.
Section 43-2-847 - Powers of Surviving Personal Representative.
Section 43-2-848 - Compensation of Personal Representative.
Section 43-2-849 - Expenses in Estate Litigation.
Section 43-2-852 - Terms and Requirements of Bonds.