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- Alaska Statutes.
- Title 13. Decedents' Estates, Guardianships, Transfers, and Trusts.
- Chapter 26. Protection of Persons Under Disability and Their Property; Powers of Attorney
- Section 220. Terms and Requirements of Bonds.
previous: Section 215
next: Section 225
. Acceptance of Appointment; Consent to Jurisdiction; Notice.
AS 13.26.220. Terms and Requirements of Bonds.
- (a) The following requirements and provisions apply to any bond required under AS 13.26.215
- (1) unless otherwise provided by the terms of the approved bond, sureties are jointly and severally liable with the
conservator and with each other;
- (2) by executing an approved bond of a conservator, the surety consents to the jurisdiction of the court which issued
letters to the primary obligor in any proceeding pertaining to the fiduciary duties of the conservator and naming the
surety as a party defendant; 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;
- (3) on petition of a successor conservator or any interested person, a proceeding may be initiated against a surety for
breach of the obligation of the bond of the conservator;
- (4) the bond of the conservator is not void after the first recovery but may be proceeded against from time to time until
the whole penalty is exhausted.
- (b) A proceeding may not 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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