Official Code of Georgia Annotated

Title 29. GUARDIAN AND WARD · Chapter 5. CONSERVATORS OF ADULTS · Article 5. CONSERVATOR’S BOND AND OTHER OBLIGATIONS

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

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
A conservator appointed by the court, including a conservator appointed in a final order accepting the transfer of a conservatorship proceeding from another state issued under subsection (e) of Code Section 29-11-21, shall give bond with good and sufficient security.#
(b)
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.#
(c)
The clerk of the court shall record bonds in books kept for that purpose and shall retain custody of the bonds.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 29-5-40, enacted by Ga. L. 2004, p. 161, § 1; Ga. L. 2019, p. 693, § 18/HB 70.

Amendments

The 2019 amendment, effective January 1, 2020, inserted “, including a conservator appointed in a final order accepting the transfer of a conservatorship proceeding from another state issued under subsection (e) of Code Section 29-11-21,” in subsection (a).

Law reviews

For article, “Guardianship and Conservatorship 101,” see 28 Ga. St. B.J. 16 (December 2022).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t27-t30-(v22)-pdf.pdf, Volume V22, 2018 edition, 2025 supplement, page 221; merge action: replaced; file SHA-256 b54071b79715.

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