Rule 332 Bonds
PART II
Rule Text
(a) Condition of bond. Any bond required by the Court pursuant to D.C. Code § 21-2058 shall be filed on a form prescribed by the Register of Wills. The condition of the bond shall be that the conservator shall faithfully discharge all duties of the trust according to law as such conservator and in all things obey such order as the Court shall make in the premises.
(b) Exemptions. No bond shall be required of a bank or trust company authorized under District of Columbia law to act as conservator. If a person appointed as temporary conservator pursuant to D.C. Code § 21-2055(a) is subsequently appointed permanent conservator a new bond shall not be required and the original bond shall be increased as necessary.
(c) Penalty. Unless otherwise ordered by the Court, the penalty of the bond shall be in the amount of the value of the assets (real and personal) of the estate committed to the conservator's control plus one year's estimated income, minus the value of any securities deposited under arrangements that require an order of the Court for their removal and the value of any real estate that the conservator, by express limitation, lacks the power to sell or convey without prior Court authorization (obtained pursuant to SCR-PD 322).