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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 16. Probate of Wills and Administration
- Section 270. Terms and Conditions of Bonds.
previous: Section 265
. Demand For Bond By Interested Person.
next: Section 275
. Order Restraining Personal Representative.
AS 13.16.270. Terms and Conditions of Bonds.
- (a) The following requirements and provisions apply to any bond required by AS 13.16.245
- (1) bonds shall name the state as obligee for the benefit of persons interested in the estate and shall be conditioned
upon the faithful discharge by the fiduciary of all duties according to law;
- (2) unless otherwise provided by the terms of the approved bond, sureties are jointly and severally liable with the
personal representative and with each other; the address of each surety shall be stated in the bond;
- (3) by executing an approved bond of a personal representative, the surety consents to the jurisdiction of the probate
court which issued letters to the primary obligor in any proceedings pertaining to the fiduciary duties of the personal
representative and naming the surety as a party; notice of any proceeding shall be delivered to the surety or mailed by
registered or certified mail to the surety at the address as listed with the court where the bond is filed and to the
surety's address as then known to the petitioner;
- (4) on petition of a successor personal representative, any other personal representative of the same decedent, or any
interested person, a proceeding in the court may be initiated against a surety for breach of the obligation of the bond
of the personal representative;
- (5) the bond of the personal representative is not void after the first recovery but may be proceeded against from time to
time until the whole penalty is exhausted.
- (b) No action or 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.
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