633.186 - SUIT ON BOND.
633.186 SUIT ON BOND. 1. Execution of bond deemed as appearance. The execution and filing of the bond by a fiduciary, any other provisions of law notwithstanding, shall be deemed an appearance by the surety in the proceeding for the administration of the estate including all hearings with respect to the bond. 2. Summary enforcement in proceedings for administration. Subject to the provisions of subsection 3 hereof, the court may, upon the breach of the obligation of the bond of a fiduciary, after notice to the obligors on the bond and to such other persons as the court directs, summarily determine the damages as a part of the proceeding for the administration of the estate, and by appropriate process enforce the collection thereof from those liable on the bond. Such determination and enforcement may be made by the court upon its own motion or upon application of a successor fiduciary, or of any other interested person. The court may hear the application at the time of settling the accounts of the defaulting fiduciary or at such other time as the court may direct. Damages shall be assessed on behalf of all interested persons and may be paid over to the successor or other nondefaulting fiduciary and distributed as other assets held by the fiduciary in the fiduciary's official capacity. 3. Enforcement by separate suit. If the estate is already distributed, or if, for any reason, the procedure to recover on the bond provided in subsection 2 hereof, is inadequate, any interested person may bring a separate suit in a court of competent jurisdiction on the person's own behalf for damages suffered by the person by reason of the default of the fiduciary. 4. Bond not void upon first recovery. The bond of the fiduciary shall not be void upon the first recovery, but may be proceeded upon from time to time until the whole penalty is exhausted. 5. Denial of liability by surety -- intervention. If the court has already determined the liability of the fiduciary, the sureties shall not be permitted thereafter to deny such liability in any action or hearing to determine their liability; but the surety may intervene in any hearing to determine the liability of the fiduciary.
Section History: Early Form [C51, § 1387, 1389, 1509; R60, § 2419, 2421, 2561; C73, § 2251, 2435; C97, § 3201, 3361; C24, 27, 31, 35, 39, § 11984, 11985, 12603; C46, 50, 54, 58, 62, § 635.79, 635.80, 668.30; C66, 71, 73, 75, 77, 79, 81, § 633.186] Referred to in § 633.487 See § 636.20