(a) Upon the appointment of a guardian, the guardian 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 of the ward during the ensuing year. The bond shall be in the form and be conditioned as required of guardians appointed under the general guardianship laws of this state. The court may from time to time require the guardian to file an additional bond.

Terms Used In Tennessee Code 34-5-110

  • Corporate surety: means a corporation admitted to do business in the state and licensed under title 56, chapter 2. See Tennessee Code 34-1-101
  • Court: means any court having jurisdiction to hear matters concerning guardians or conservators. See Tennessee Code 34-1-101
  • Estate: means income on hand and assets acquired partially or wholly with "income". See Tennessee Code 34-5-102
  • 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.
  • Guardian: means any fiduciary for the person or estate of a ward. See Tennessee Code 34-5-102
  • Income: means moneys received from the veterans administration and revenue or profit from any property wholly or partially acquired with those moneys. See Tennessee Code 34-5-102
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Ward: means a beneficiary of the veterans administration. See Tennessee Code 34-5-102
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) Where a bond is tendered by a guardian 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 each is worth the sum named in the bond as the penalty thereof over and above all debts and liabilities and the aggregate of other bonds on which the guardian is principal or surety and exclusive of property exempt from execution. The court may require additional security or may require a corporate surety bond, the premium thereon to be paid from the ward’s estate.
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