) Security for the faithful performance of the personal representative’s trust, as required by Section 2011 of this Title, may in the discretion of the Superior Court of Guam be, in whole or in part, in the form of a bond. Unless otherwise ordered by the Superior Court of Guam, such bond shall be executed to the Government of Guam, with two or more natural persons or a surety company as surety, conditioned that the personal representative shall faithfully execute the duties of his trust according to law. Such bond shall be approved by the Superior Court of Guam and filed with the Clerk of the Superior Court of Guam prior to the issue of letters to the personal representative.
(b) The liability of principal and sureties upon the bond of a personal representative is in all cases to pay in the kind of money or currency in which the principal is legally liable. The liability of the personal representative shall not be limited to the penal amount of such bond. The liability of the surety upon such bond shall be limited to its penal amount, except that if the surety fails to satisfy such liability upon demand made after the liability of the principal has become established, the surety shall also be liable for interest at the legal rate from the date of the demand on any judgment obtained against such surety in an action to recover upon such bond, and for costs incurred in obtaining such judgment. Such bond shall not be void upon the first recovery, but may be sued and recovered upon from time to time, by any person aggrieved, in his own name, until the whole penalty is exhausted.

SOURCE: Subsection (a): Guam Law Revision Commission. Subsection (b): California Probate Code, § 554 (as amended).
COMMENT: The Probate Code of Guam (1970) contained elaborate provisions concerning the form and amount of probate bonds, justification of sureties, etc. Such provisions were probably called for under the Probate Code of Guam (1970), as under that Code the probate bond was (with minor exceptions) the only available form of security for the faithful performance of the personal representative. The Commission notes that the bond requirements contained in the Probate Code of Guam (1970) were not often followed by the court; the reasons for this are unclear, but it may be surmised that one reason was that such bonds have long been difficult
— perhaps impossible — to obtain in Guam. In any event, the Commission is of the opinion that under the general scheme of Subchapter B of Chapter 20 such

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CH. 20 OATH, FORM OF LETTERS, AND SECURITY FOR
FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE

elaborate provisions are no longer needed: as the court now has very broad discretion to set the form, amount, terms and conditions of security for the personal representative’s faithful performance (see § 2011(a), supra,) the Commission believes that the court should have the concomitant power to make all necessary determinations as far as bonds are concerned, without legislative constraint. Nonetheless, the Commission is of the opinion that the provisions of subsection (b) are necessary, in that they clarify liability on such a bond.