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2018 Georgia Code 29-5-40 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 29-5-40 Case Law from Google Scholar Amendments to OCGA 29-5-40

TITLE 29 GUARDIAN AND WARD

Section 5. Conservators of Adults, 29-5-1 through 29-5-140.

ARTICLE 5 CONSERVATOR'S BOND AND OTHER OBLIGATIONS

29-5-40. Bond requirement; exception to requirement; recording.

  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 statements signed by 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, §29-5-40, enacted by Ga. L. 2004, p. 161, § 1.)

JUDICIAL DECISIONS

Liability for punitive damages.

- Conservator's bond pursuant to O.C.G.A. § 29-5-40 et seq. does not cover punitive damages. In re Estate of Gladstone, 303 Ga. 547, 814 S.E.2d 1 (2018).

Judgment that a conservator's bond covered punitive damages even though such damages were not expressly provided for under O.C.G.A. § 29-5-40 et seq. or under the provisions of the bond itself was reversed because a conservator's bond pursuant to § 29-5-40 et seq. does not cover punitive damages. In re Estate of Gladstone, 303 Ga. 547, 814 S.E.2d 1 (2018).

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