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2018 Georgia Code 29-3-40 | Car Wreck Lawyer

TITLE 29 GUARDIAN AND WARD

Section 3. Conservators of Minors, 29-3-1 through 29-3-120.

ARTICLE 4 BONDING OF CONSERVATORS

29-3-40. Bond required; exception; recording of bonds.

  1. A conservator appointed by the court shall give bond with good and sufficient security.
  2. A financial institution, trust company, national or state bank, savings bank, or savings and loan association described in Code Section 7-1-242 that seeks to qualify as a conservator is not required to give bond for the faithful performance of its duties unless its combined capital, surplus, and undivided profits are less than $3 million as reflected in its last statement filed with the Comptroller of the Currency of the United States or the commissioner of banking and finance.
  3. The clerk of the court shall record bonds in books kept for that purpose and shall retain custody of the bonds.

(Code 1981, §29-3-40, enacted by Ga. L. 2004, p. 161, § 1.)

JUDICIAL DECISIONS

Editor's notes.

- In light of the similarity of the statutory provisions, decisions under former Civil Code 1895, § 2528, former Code 1873, § 1812, and former Code 1933, § 49-113 are included in the annotations for this Code section.

Grant of letters without bond not void without notice.

- In all cases of appointment by ordinary (now judge of probate court) of guardian of a minor - whether the clerk of the superior court or some other proper person - bond should be required; but the grant of letters without taking bond would not be void as against a bona fide purchaser under the guardian, without notice of want of a bond. Cuyler v. Wayne, 64 Ga. 78 (1879) (decided under former Code 1873, § 1812).

Commingling of funds and failure to account is breach.

- Deposit of ward's funds to individual account of guardian, and failure to account therefor, is per se a breach of bond. Hawes v. Standard Accident Ins. Co., 54 Ga. App. 776, 189 S.E. 59 (1936) (decided under former Code 1933, § 49-113).

Cited in Speck v. Speck, 42 Ga. App. 517, 156 S.E. 706 (1931); Kinsey v. Fidelity & Cas. Co., 53 Ga. App. 674, 187 S.E. 246 (1936); Brown v. Gibson, 203 Ga. 213, 46 S.E.2d 68 (1948); Tucker v. American Sur. Co., 191 F.2d 959 (5th Cir. 1951).

RESEARCH REFERENCES

Am. Jur. 2d.

- 39 Am. Jur. 2d, Guardian and Ward, §§ 67, 188 et seq.

C.J.S.

- 39 C.J.S., Guardian and Ward, §§ 13, 14, 35, 36, 50 et seq., 283 et seq.

ALR.

- Leave of court as prerequisite to action on statutory bond, 2 A.L.R. 563.

Subsequent appointment of guardian as curing invalidity of prior sale of ward's property, 2 A.L.R. 1565.

Official bond of executor, administrator, guardian, or trustee as covering appeal taken by him, 132 A.L.R. 1280.

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