Sec. 2.5. (a) Except as provided in subsection (c), a personal representative is not required to execute and file a bond relating to the duties of the personal representative's office under this chapter unless:
(1) the will provides for the execution and filing of a bond; or
(2) the court finds, on the court's own motion or on motion by an interested person, that a bond is necessary to protect creditors, heirs, devisees, and legatees.
(b) If a bond is required under subsection (a):
(1) the amount of the bond shall be determined by the court; and
(2) the bond shall be administered;
under IC 29-1-11.
(c) If a personal representative is not an Indiana resident or ceases to be an Indiana resident, the personal representative shall execute and file a bond under IC 29-1-10-1. The amount of the bond may be adjusted at the court's discretion.
As added by P.L.130-1992, SEC.2.
Structure Indiana Code
29-1-7.5-0.1. Application of Certain Amendments to Chapter
29-1-7.5-1. Persons Entitled to Petition; Notice to Creditors
29-1-7.5-1.5. Notice to Distributees
29-1-7.5-2. Conditions to Grant of Petition; Collateral Attack; Revocation
29-1-7.5-2.5. Personal Representative's Bond
29-1-7.5-3. Powers of Personal Representative to Act Without Order of Court
29-1-7.5-3.4. Distribution of Real Property
29-1-7.5-3.6. Conveyance of Real Property
29-1-7.5-3.8. Prompt Closing of Estates
29-1-7.5-4. Closing Estate; Procedures; Termination of Appointment of Personal Representative
29-1-7.5-4.5. Uncontested Closing Statements; Audits and Inquiries
29-1-7.5-5. Undischarged Claims; Actions Against Distributees; Contribution
29-1-7.5-6. Claims Against Personal Representatives; Limitation
29-1-7.5-7. Claims Against Distributees; Limitation
29-1-7.5-8. Subsequently Discovered Estate; Appointment of Personal Representative