2018 Mississippi Code
Title 93 - Domestic Relations
Chapter 13 - Guardians and Conservators
Wards, Generally
§ 93-13-55. Application to court for directions as to disposition of securities.
(1)
(a) Whenever a guardian shall receive for his ward, by inheritance, bequest or gift, any stocks, bonds or other securities or investments, in which the guardian is not authorized by law to invest the monies of his ward, he shall apply to the court, or chancellor in vacation, for directions as to the disposition of the stocks, bonds or other securities or investments. The court shall determine whether the guardian shall retain the stocks, bonds or other securities or investments in the form in which they were received by the guardian, or sell the same and reinvest the proceeds. If the court or chancellor direct the guardian to retain the stocks, bonds or other securities or investments, responsibility shall not attach thereafter to the guardian as to the sufficiency of the investment.
(b) Whenever a special general guardian appointed under Section 93-13-37 shall receive for his ward, by inheritance, bequest, gift or other acquisition, any property in which the guardian is not authorized by law to invest the monies of his ward, he shall apply to the court, or chancellor in vacation, for directions as to the disposition of the property. If the court or chancellor directs the guardian to retain the property, responsibility shall not attach thereafter to the guardian, but the court, or chancellor in vacation, may impose a duty of accounting if it is found to be in the best interest of the ward and may enforce court rules governing guardianships as the court, in its discretion, deems appropriate.
(2) Nothing in subsection (1) shall be construed to allow the investment of the money of the ward by the guardian in any manner other than is authorized by law.
