Massachusetts General Laws ch. 202 sec. 34 – Foreign fiduciary; bond; sufficiency; filing
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Section 34. If the court finds that such foreign guardian or conservator has given bond with sufficient surety or sureties, in the state or country where he was appointed, to account for the proceeds of such sale, mortgage or lease, and if an authenticated copy of such bond is filed in said court, no further bond shall be required; otherwise, before such license is granted, he shall give bond payable to the judge of said court and his successors with sufficient surety or sureties and with condition to account for and dispose of said proceeds according to law.
Terms Used In Massachusetts General Laws ch. 202 sec. 34
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.