Kentucky Statutes 388.270 – Court to approve appointment — Bond of guardian or conservator
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(1) Before making an appointment under the provisions of this chapter, the court shall be satisfied that the person whose appointment is sought is a fit and proper person to be appointed. Upon the appointment being made, the guardian or conservator shall execute and file a bond to be approved by the court in an amount not less than the estimated value of the personal estate and anticipated income during the ensuing year. The said bond shall be in the form and be conditioned as required of guardians and conservators appointed under the general guardianship laws of this state. The court shall have power from time to time to require the guardian or conservator to file an additional bond.
(2) Where a bond is tendered by a guardian or conservator with personal sureties, there shall be at least two (2) such sureties and they shall file with the court a certificate under oath which shall describe the property owned, both real and personal, and shall state that they are each worth the sum named in the bond as the penalty thereof over and above all their debts and liabilities and exclusive of property exempt from execution. Notwithstanding such tender, the court may require additional security or may require a corporate surety bond, the premium thereon to be paid from the ward‘s estate.
Effective: July 1, 1982
History: Amended 1982 Ky. Acts ch. 141, sec. 121, effective July 1, 1982. — Created
1942 Ky. Acts ch. 25, sec. 8.
Note. 1980 Ky. Acts ch. 396, sec. 132 would have amended this section effective July 1,
1982. However 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, sec.
146, also effective July 1, 1982.
(2) Where a bond is tendered by a guardian or conservator with personal sureties, there shall be at least two (2) such sureties and they shall file with the court a certificate under oath which shall describe the property owned, both real and personal, and shall state that they are each worth the sum named in the bond as the penalty thereof over and above all their debts and liabilities and exclusive of property exempt from execution. Notwithstanding such tender, the court may require additional security or may require a corporate surety bond, the premium thereon to be paid from the ward‘s estate.
Terms Used In Kentucky Statutes 388.270
- court: means the District Court of the county of the beneficiary's residence. See Kentucky Statutes 388.190
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- income: shall include only moneys received by the guardian or conservator from the Veterans Affairs, all earnings, interest and profits derived therefrom and all property acquired therewith. See Kentucky Statutes 388.190
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Oath: A promise to tell the truth.
- person: includes a partnership, corporation or an association. See Kentucky Statutes 388.190
- Personal estate: includes chattels, real and other estate that passes to the personal representative upon the owner dying intestate. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- ward: means a beneficiary of the Veterans Affairs. See Kentucky Statutes 388.190
- Year: means calendar year. See Kentucky Statutes 446.010
Effective: July 1, 1982
History: Amended 1982 Ky. Acts ch. 141, sec. 121, effective July 1, 1982. — Created
1942 Ky. Acts ch. 25, sec. 8.
Note. 1980 Ky. Acts ch. 396, sec. 132 would have amended this section effective July 1,
1982. However 1980 Ky. Acts ch. 396 was repealed by 1982 Ky. Acts ch. 141, sec.
146, also effective July 1, 1982.