TITLE 15

UNIFORM PROBATE CODE

CHAPTER 5

PROTECTION OF PERSONS UNDER DISABILITY AND THEIR PROPERTY [EFFECTIVE UNTIL JANUARY 1, 2027] UNIFORM GUARDIANSHIP, CONSERVATORSHIP, AND OTHER PROTECTIVE ARRANGEMENTS ACT [EFFECTIVE JANUARY 1, 2027]

PART 4

PROTECTION OF PROPERTY OF PERSONS UNDER DISABILITY AND MINORS [EFFECTIVE UNTIL JANUARY 1, 2027] CONSERVATORSHIP [EFFECTIVE JANUARY 1, 2027]

15-5-416.  Petitions for orders subsequent to appointment. [effective until January 1, 2027] (a) Any person interested in the welfare of a person for whom a conservator has been appointed may file a petition in the appointing court for an order (1) requiring bond or security or additional bond or security, or reducing bond, (2) requiring an accounting for the administration of the trust, (3) directing distribution, (4) removing the conservator and appointing a temporary or successor conservator, or (5) granting other appropriate relief.

(b)  A conservator may petition the appointing court for instructions concerning his fiduciary responsibility.

(c)  Upon notice and hearing, the court may give appropriate instructions or make any appropriate order.

15-5-416.  BOND — ALTERNATIVE ASSET-PROTECTION ARRANGEMENT. [effective January 1, 2027] (1) Except as otherwise provided in subsection (3) of this section, the court shall require a conservator to furnish a bond with a surety the court specifies, or require an alternative asset-protection arrangement, conditioned on faithful discharge of all duties of the conservator. The court may waive the requirement only if the court finds that a bond or other asset-protection arrangement is not necessary to protect the interests of the individual subject to conservatorship. Except as otherwise provided in subsection (3) of this section, the court may not waive the requirement if the conservator is in the business of serving as a conservator and is being paid for the service.

(2)  Unless the court directs otherwise, the bond required under this section shall be in the amount of the aggregate capital value of the conservatorship estate, plus one (1) year’s estimated income, less the value of property deposited under an arrangement requiring a court order for its removal and real property the conservator lacks power to sell or convey without specific court authorization. The court, in place of surety on a bond, may accept collateral for the performance of the bond, including a pledge of securities or a mortgage of real property.

(3)  A regulated financial-service institution qualified to do trust business in this state is not required to give a bond under this section.

History:

[15-5-416, added 1971, ch. 111, sec. 1, p. 233; repealed and added 2026, ch. 79, sec. 6, p. 374.]