House: First reading; House: Referred to Rules
Summary
The bill amends Arizona law so that the department must post a $500,000 corporate surety bond with the Secretary of State whenever it is appointed to act as an executor, administrator, guardian, or conservator. Courts will order the department to act without an additional bond, and they will allow a charge against each estate’s assets to cover the department’s share of the bond premium, which will be deposited into the state general fund. This ensures financial protection for estates and clarifies funding for the department’s duties.
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