§ 35A-1230. Bond required before receiving property. - North Carolina Statutes

Article 7.

Guardian's Bond.

§ 35A‑1230.  Bondrequired before receiving property.

Except as otherwise providedby G.S. 35A‑1212.1 and G.S. 35A‑1225(a), no general guardian orguardian of the estate shall be permitted to receive the ward's property untilhe has given sufficient surety, approved by the clerk, to account for and applythe same under the direction of the court, provided that if the guardian is anonresident of this State and the value of the property received exceeds onethousand dollars ($1,000) the surety shall be a bond under G.S. 35A‑1231(a)executed by a duly authorized surety company, or secured by cash in an amountequal to the amount of the bond or by a mortgage executed under Chapter 109 ofthe General Statutes on real estate located in the county, the value of which,excluding all prior liens and encumbrances, shall be at least one and one‑fourthtimes the amount of the bond; and further provided that the nonresident shallappoint a resident agent to accept service of process in all actions andproceedings with respect to the guardianship. The clerk shall not require aguardian of the person who is a resident of North Carolina to post a bond; theclerk may require a nonresident guardian of the person to post a bond or othersecurity for the faithful performance of the guardian's duties. (1987, c. 550, s. 1; 1989, c.473, s. 2; 2005‑333, s. 3.)