72-5-412. Terms and requirements of bond. (1) The following requirements and provisions apply to any bond required under 72-5-411:
(a) Unless otherwise provided by the terms of the approved bond, sureties are jointly and severally liable with the conservator and with each other.
(b) By executing an approved bond of a conservator, the surety consents to the jurisdiction of the court that issued letters to the primary obligor in any proceeding pertaining to the fiduciary duties of the conservator and naming the surety as a party defendant. Notice of any proceeding must be delivered to the surety or mailed to the surety by certified mail at the surety's address as listed with the court where the bond is filed and to the surety's address as then known to the petitioner.
(c) On petition of a successor conservator or any interested person, a proceeding may be initiated against a surety for breach of the obligation of the bond of the conservator.
(d) The bond of the conservator is not void after the first recovery but may be proceeded against from time to time until the whole penalty is exhausted.
(2) A proceeding may not be commenced against the surety on any matter as to which an action or proceeding against the primary obligor is barred by adjudication or limitation.
History: En. 91A-5-412 by Sec. 1, Ch. 365, L. 1974; R.C.M. 1947, 91A-5-412; amd. Sec. 2419, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 5. Upc -- Persons Under Disability Guardianship and Conservatorship
Part 4. Protection of Property of Minors and Persons Under Disability
72-5-401. Original petition for appointment or protective order -- who may petition
72-5-402. Contents of petition
72-5-404. Request for notice -- interested person
72-5-405. Exclusive and concurrent jurisdiction of particular court after petition and notice
72-5-406. Consent to jurisdiction by acceptance of appointment as conservator
72-5-408. Procedure concerning hearing and order on original petition
72-5-409. Cause for appointment of conservator or issuance of protective order
72-5-410. Who may be appointed conservator -- priorities
72-5-411. Bond -- court may require -- amount
72-5-412. Terms and requirements of bond
72-5-413. Petitions for orders subsequent to appointment -- interested persons
72-5-414. Resignation or removal of conservator for cause -- successor conservator
72-5-415. Public administrator as conservator when no other appropriate person
72-5-416. through 72-5-420 reserved
72-5-423. Fiduciary duty of conservator
72-5-424. Inventory and records
72-5-425. Title by appointment as conservator -- appointment not transfer for certain purposes
72-5-426. Letters as evidence of transfer of assets -- recording
72-5-427. Powers of conservator in administration
72-5-428. Distributive powers and duties of conservator generally
72-5-430. Enlargement or limitation of powers of conservator by court
72-5-431. Preservation of estate plan -- right to inspect will
72-5-432. Compensation and expenses
72-5-433. Claims against protected person -- presentment, allowance, and payment -- priorities
72-5-434. Transaction involving conflict of interest -- voidable -- exceptions
72-5-435. Persons dealing with conservator -- protection
72-5-436. Claims arising during conservatorship -- individual liability of conservator
72-5-437. Termination of conservatorship
72-5-438. Accounts -- final and intermediate
72-5-439. Payment of debt and delivery of property to foreign conservator without local proceedings
72-5-440. through 72-5-443 reserved
72-5-444. Petition to authorize proposed action -- substituted judgment
72-5-449. No duty to propose action
72-5-450. Production of protected person's other relevant estate plan documents