CHAPTER 7. QUALIFICATION AND BONDING REQUIREMENTS FOR GUARDIANS
IC 29-3-7
Chapter 7. Qualification and Bonding Requirements for Guardians
IC 29-3-7-1
Guardian's bond; amount; collateral in lieu of sureties on bond;
reduced bonds
Sec. 1. (a) Unless the court finds that a bond is unnecessary and
enters an order to that effect, or unless the appointed guardian is a
bank or trust company (as defined in IC 28-1-1-3), a guardian must
execute and file a bond relating to the duties of the guardian's office.
Unless otherwise directed by the court, the bond must be in an
amount that is not less than the amount determined under STEP
THREE of the following STEPS:
STEP ONE: Enter the aggregate value of the guardianship
property.
STEP TWO: Add to the amount entered under STEP ONE one
(1) year's estimated income.
STEP THREE: From the sum determined under STEP TWO
subtract the value of any property that the guardian, by express
limitation of power, lacks the power to sell, convey, or
encumber without a court order.
(b) The court, instead of sureties on a bond, may accept other
collateral for the performance of the bond, including a pledge of
securities or a mortgage of the land.
(c) The court may fix the bond at an amount less than that
provided under subsection (a), but the amount fixed must, in the
court's opinion, provide adequate protection to the property of the
protected person. In fixing a reduced bond, the court may do any of
the following:
(1) Direct the guardian to invest all, or a part of, the property
subject to the guardian's control in:
(A) stocks, bonds, or other securities of any corporation,
public or private, which are listed or admitted to trading on
the New York Stock Exchange, the American Stock
Exchange, the Midwest Stock Exchange, the Pacific Coast
Stock Exchange, or any other exchange regulated by the
Securities and Exchange Commission; or
(B) securities that are obligations issued or guaranteed by the
United States.
(2) Direct the guardian to place all, or a part of, the property
subject to the guardian's control in a savings account. However,
the court may require property to be held in a manner that
requires either the joint authorization of the guardian and the
guardian's surety or an order of the court to remove the funds
from the account.
(3) Direct the guardian to transfer all, or a part of, the property
subject to the guardian's control to a bank or trust company
organized under the laws of Indiana or of the United States and
operating a bank or trust company located within Indiana to
administer the estate as an agent for the guardian.
(4) Direct the guardian to:
(A) transfer any or all stocks, bonds, and securities subject
to the guardian's control only after obtaining an order of the
court directing the transfer; and
(B) require that notice of this restriction on the transfer of
such stocks, bonds, and securities be placed upon the
certificates evidencing those stocks, bonds, and securities.
(5) Direct the guardian to comply with all, part, or any
combination of the requisites specified in subdivisions (1)
through (4).
(6) Direct the guardian to take any other action that the court
determines necessary to provide adequate protection to the
property of the protected person.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-2
Bond requirements; liability; consent to jurisdiction; proceedings
against sureties
Sec. 2. (a) The following requirements apply to all bonds on
which the guardian is primary obligor:
(1) Unless otherwise provided by the terms of the bond, sureties
are jointly and severally liable with the primary obligor and
with each other.
(2) By executing the bond, the surety consents to the
jurisdiction of the court that issued letters in any proceeding
pertaining to the fiduciary duties of the primary obligor and
naming the surety as a party respondent. Notice of any
proceeding under this article must be delivered to the surety or
mailed by registered or certified mail to the address listed with
the court at the place where the bond is filed and to the address
as then known to the petitioner.
(3) On petition of a successor to the primary obligor or any
interested person, a proceeding may be intitiated against a
surety for breach of the obligation of the bond of the primary
obligor.
(4) The bond is not void after the first recovery but may be
proceeded against from time to time until the whole penalty is
exhausted.
(b) No proceeding may be commenced against the surety on any
matter as to which an action or proceeding against the primary
obligor is barred by adjudication or limitation.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-3
Letters of guardianship
Sec. 3. (a) Letters of guardianship, temporary or otherwise, shall
be issued to the person entitled to receive them when:
(1) the guardian, if an individual, has filed bond if required and
taken and subscribed before the clerk or any other officer
authorized to administer oaths, an oath or affirmation that the
guardian will faithfully discharge the duties of the guardian's
trust according to law; or
(2) the guardian, if other than an individual, has filed bond if
required and has:
(A) taken and subscribed before the clerk or any other
officer authorized to administer oaths an oath or affirmation
that it will faithfully discharge the duties of its trust
according to law; and
(B) filed an acceptance of the appointment, duly executed
and acknowledged by one (1) of its officers.
(b) The oath, and if other than an individual also the acceptance,
shall be filed and recorded as a part of the proceedings of the
guardianship.
(c) If the court limits or restricts the authority of the guardian or
creates a limited guardianship, the letters must so state under
IC 29-3-8.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-4
Acceptance of appointment as submission to personal jurisdiction
Sec. 4. By accepting appointment, a guardian and the guardian's
attorney submit personally to the jurisdiction of the court in any
proceeding relating to the guardianship.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-5
Guardianship property; possession by guardian; transfer of
property interest; process against property
Sec. 5. (a) A guardian shall take possession of the guardianship
property, title to which shall remain in the protected person subject
to the right of the guardian to possess and dispose of the property as
provided by law.
(b) The interest of the protected person in guardianship property
is not transferable or assignable by the protected person. An
attempted transfer or assignment by the protected person, though
ineffective to affect property rights, may generate a claim under
IC 29-3-10.
(c) The property referred to in subsections (a) through (b) is not
subject to levy, garnishment, or similar process other than an order
issued in a proceeding on a claim under IC 29-3-10.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-6
Evidence of possessory and disposition rights in guardianship
property; real property of guardianship; filing of letters of
appointment or termination orders
Sec. 6. (a) Letters are evidence that the guardian has all, and the
protected person does not have any, rights to possess and dispose of
the guardianship property. An order terminating a guardianship is
evidence that the protected person has all, and the guardian does not
have any, rights to possess and dispose of the guardianship property.
(b) Subject to the requirements of general statutes governing the
filing or recordation of documents of title to real estate, letters, and
orders terminating the same may be filed or recorded in the county
where the real estate in question is located to give record notice of
rights of possession and disposal as between the guardian and the
protected person.
As added by P.L.169-1988, SEC.1.
IC 29-3-7-7
Persons prohibited from being appointed or from serving as a
guardian
Sec. 7. A court may not appoint a person to serve as the guardian
or permit a person to continue to serve as a guardian if the person:
(1) is a sexually violent predator (as described in
IC 35-38-1-7.5);
(2) was at least eighteen (18) years of age at the time of the
offense and was convicted of child molesting (IC 35-42-4-3) or
sexual misconduct with a minor (IC 35-42-4-9) against a child
less than sixteen (16) years of age:
(A) by using or threatening the use of deadly force;
(B) while armed with a deadly weapon; or
(C) that resulted in serious bodily injury; or
(3) was less than eighteen (18) years of age at the time of the
offense and was convicted as an adult of:
(A) an offense described in:
(i) IC 35-42-4-1;
(ii) IC 35-42-4-2;
(iii) IC 35-42-4-3 as a Class A or Class B felony;
(iv) IC 35-42-4-5(a)(1);
(v) IC 35-42-4-5(a)(2);
(vi) IC 35-42-4-5(a)(3);
(vii) IC 35-42-4-5(b)(1) as a Class A or Class B felony;
(viii) IC 35-42-4-5(b)(2); or
(ix) IC 35-42-4-5(b)(3) as a Class A or Class B felony;
(B) an attempt or conspiracy to commit a crime listed in
clause (A); or
(C) a crime under the laws of another jurisdiction, including
a military court, that is substantially equivalent to any of the
offenses listed in clauses (A) and (B).
As added by P.L.131-2009, SEC.5.