2025 Session
Last amended: 2020 session
§ 524.5-415 — Bond
Plain-Language Summary
A conservator has a fiduciary duty to manage the protected person's property prudently, similar to how a trustee manages trust property.
524.5-415 BOND.
The court may require a conservator to furnish a bond conditioned upon faithful discharge of all duties of the conservatorship according to law, with sureties as it may specify. A bond is not required for any conservator that is a bank or trust company provided the total conservatorship assets do not exceed $1,000,000. If the conservator is a bank or trust company then a bond shall be required if the conservatorship assets exceed $1,000,000.
History:
2003 c 12 art 1 s 54; 2020 c 86 art 1 s 32
History: History: 2003 c 12 art 1 s 54; 2020 c 86 art 1 s 32
Practical Notes
The conservator must manage money and property as a careful investor would, diversifying investments and seeking reasonable returns while preserving the protected person’s assets for their needs.