There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 29A-3-606 — Terms and conditions of bonds.
29A-3-606. Terms and conditions of bonds. (a) The following requirements and provisions apply to any bond required by this part:
(1) Bonds shall name the state as obligee
for the benefit of the persons interested in the estate and shall
be conditioned upon the faithful discharge by the personal
representative of all fiduciary 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 sureties 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 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.
Source: SL 1994, ch 232, § 3-606.
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