59-1106. Increase or reduction of bond; cancellation.
59-1106
59-1106. Increase or reduction of bond; cancellation.The court, on its own motion or upon application of any interestedperson, may for good cause require a fiduciary to file a new or additionalbond. Thereupon the fiduciary's accounts shall be settled, and if approved theliability of the sureties on such new or additional bond shall be limitedto the property then in the possession of the fiduciary, or thereafteracquired by him or her. Whenever the court shall find the bond of a fiduciary islarger than necessary, it may, by order, reduce the liability thereon tothe proper amount. It may, by like order, cancel any bond found to beunnecessary.
History: L. 1939, ch. 180, § 86; July 1.