2018 Indiana Code
TITLE 29. Probate
ARTICLE 1. PROBATE CODE
CHAPTER 7.5. Unsupervised Administration and Claims Against Personal Representatives and Distributees
29-1-7.5-2.5. Personal representative's bond

Universal Citation: IN Code § 29-1-7.5-2.5 (2018)
IC 29-1-7.5-2.5 Personal representative's bond

     Sec. 2.5. (a) Except as provided in subsection (c), a personal representative is not required to execute and file a bond relating to the duties of the personal representative's office under this chapter unless:

(1) the will provides for the execution and filing of a bond; or

(2) the court finds, on the court's own motion or on motion by an interested person, that a bond is necessary to protect creditors, heirs, devisees, and legatees.

     (b) If a bond is required under subsection (a):

(1) the amount of the bond shall be determined by the court; and

(2) the bond shall be administered;

under IC 29-1-11.

     (c) If a personal representative is not an Indiana resident or ceases to be an Indiana resident, the personal representative shall execute and file a bond under IC 29-1-10-1. The amount of the bond may be adjusted at the court's discretion.

As added by P.L.130-1992, SEC.2.

 

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