§ 28A-8-1. Bond required before letters issue; when bond not required. - North Carolina Statutes

Article8.

Bond.

§ 28A‑8‑1.  Bondrequired before letters issue; when bond not required.

(a)        Except as otherwiseprovided in subsection (b), every personal representative, before letters areissued, shall give bond, conditioned as provided in G.S. 28A‑8‑2.

(b)        No bond shall berequired of:

(1)        A resident executor,unless the express terms of the will require him to give bond;

(2)        A nonresidentexecutor (or a resident executor who moves from this State subsequent to hisappointment) who has appointed a resident agent to accept service of process asprovided in G.S. 28A‑4‑2(a) [28A‑4‑2(4)], when theexpress terms of the will excuse him from giving bond;

(3)        A nonresidentexecutor, when there is a resident executor named who has qualified ascoexecutor unless the express terms of the will require them to give bond, orthe clerk of  superior court finds that such bond is necessary for theprotection of the estate; or

(4)        A personalrepresentative appointed solely for the purpose of bringing an action for thewrongful death of the deceased until such time as the personal representativeshall receive  property into the estate of the deceased; or

(5)        A personalrepresentative that is a national banking association having its principalplace of business in this State or a State bank acting pursuant to G.S. 53‑159;

(6)        A personalrepresentative of an intestate who resides in the  State of North Carolina whenall of the heirs of the decedent are over 18 years of age and file with theclerk of superior  court a written waiver instrument agreeing to relieve thepersonal representative from the necessity of giving bond; or

(7)        A personalrepresentative where he receives all the property  of the decedent;

(8)        An administratorwith the will annexed who resides in the State of North Carolina when all ofthe devisees of the decedent are over 18 years of age and file with the clerkof  superior court a written waiver instrument agreeing to relieve him of thenecessity of giving bond. (C.C.P., ss. 467, 468; 1870‑1, c. 93; Code, ss.1387, 1388, 2169; Rev., s. 29; C.S., s. 39; 1923, c. 56; 1967, c. 41, s. 1;1973, c. 1329, s. 3; 1975, c. 300, s. 3; 1977, c. 29; 1981, c. 428; c. 599, ss.5, 6.)