(a) Where the instrument nominating a guardian excuses a noncorporate guardian from furnishing bond, the court shall not require a bond unless exceptional circumstances are shown to exist which make it necessary to require a bond for the safety of those interested in the administration of the estate.
(b) A corporate guardian shall not be required to furnish bond.
(c) In the case of a noncorporate guardian, including a substituted or successor or reinstated guardian nominated by the court or nominated under an instrument which is silent as to bond, the court may, subject to subsection (d) of this section, require a bond if, in its discretion, it finds it necessary for the safety of those interested in the administration of the estate.
(d) In a guardian estate consisting entirely of cash, deposited as provided in the rules, securities or real property, or any combination of them which cannot be transferred by the guardian without the approval of the court, not exceeding $10,000, the court shall not require a guardian to furnish or continue in effect a bond, unless exceptional circumstances are shown to exist.
(e) (1) The penalty of the bond may not be greater than the aggregate value of the property of the estate under the control of the guardian, less the value of securities or money deposited in a financial institution as defined in § 13–301(h) of this title under arrangements requiring an order of the court for their removal, and the value of any land which the guardian, by express limitation of power, lacks power to sell or convey without court authorization.
(2) The court may, in lieu of sureties on a bond, accept other security for the performance of the bond, including a pledge of securities or a mortgage of land.
(3) The court may at any time, subject to the maximum penalty provided by this section, require the amount of the bond, or the type or value of security, to be changed.
(4) The approval of a new bond may not discharge a bond filed previously from any liability which may have accrued before approval.
(f) The terms of any bond shall be as provided by the Maryland Rules.
Structure Maryland Statutes
Title 13 - Protection of Minors, Disabled Persons, Susceptible Adults, and Older Adults
Subtitle 2 - Protection of Property
Section 13-201 - Appointment of Guardian
Section 13-203 - Preservation and Application of Property
Section 13-204 - Authorization of Specific Transaction Without Appointment of Guardian
Section 13-205 - Effect of Adjudication
Section 13-206 - Guardian Generally
Section 13-207 - Persons Entitled to Appointment as Guardian
Section 13-208 - Bond of Guardian
Section 13-209 - Inventory and Accounting
Section 13-209.1 - Form and Limits of Guardianship Accounts
Section 13-210 - Petition for Orders Granting Relief
Section 13-211 - Procedure in Protective Proceedings
Section 13-212 - Degree of Care and Skill of Guardian
Section 13-214 - Powers and Duties of Guardian in Distribution
Section 13-215 - Limitation of Powers of Guardian Imposed by Will or Court
Section 13-216 - Liability for Breach of Fiduciary Duties; Rights of Purchasers
Section 13-218 - Compensation and Expenses of Guardian
Section 13-219 - Protection of Person Dealing With Guardian
Section 13-220 - Termination of Appointment of Guardian