- 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.
- 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.
- The clerk of the court shall record bonds in books kept for that purpose and shall retain custody of the bonds.
History. Code 1981, § 29-5-40 , enacted by Ga. L. 2004, p. 161, § 1; Ga. L. 2019, p. 693, § 18/HB 70.
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).