473.160. Bond not required, when. - Missouri Statutes

Bond not required, when.

473.160. 1. When, by the terms of the will, the testatorexpresses a wish that no bond be required of the personalrepresentative, no bond shall be required unless the court, inits discretion, finds it proper to require it; but the court, inits discretion, may at any subsequent time require a bond to begiven.

2. Any assets of an estate may be deposited at any time witha depositary upon such terms as may be prescribed by order of thecourt and the amount of the bond of the personal representativemay be reduced in proportion to the value of the assetsdeposited. Such assets may not thereafter be withdrawn fromdeposit without an order of the court which may also require thatan additional bond be filed and approved before the withdrawal.

3. No bond shall be required of any corporation which at thetime of its appointment by the court as personal representativehas a certificate of the director of finance of the state ofMissouri that such corporation has complied with the provisionsof section 362.590, RSMo.

4. No bond shall be required if the court, upon good causeshown, finds that a bond is not required for the protection ofinterested parties.

(L. 1955 p. 385 § 75, A.L. 1971 S.B. 163, A.L. 1980 S.B. 637, A.L. 1985 S.B. 35, et al.)