When someone signs a bond to be a personal representative (someone who manages a dead person's estate), that signing counts as showing up in court for all hearings about the bond. If the personal representative does something wrong and breaks the rules of the bond, the court can figure out how much money was lost and make the people who signed the bond pay it back. The court can do this on its own or when someone else asks. If a bank was holding the estate's money in a special locked account and lost it, the bank and the personal representative share that blame, but other losses go to whoever signed the bond.
473.207. of appearance by — procedure on of of bond. — 1. The execution of the bond of a is deemed an appearance by the surety in the for the including all s with respect to the bond.
2. On breach of the obligation of the bond of the personal representative, the court, after notice to the obligors in the bond and to such other persons as the court directs, may the as a part of the proceeding for the administration of the estate, and by the collection thereof from those on the bond. The and may be made by the court upon its own or upon of a , or of any other personal representative, or of any other . The court may hear the application at the time of settling the accounts of the defaulting personal representative or at such other time as the court may direct. Damages shall be assessed on behalf of all and may be paid over to the or other nondefaulting personal representative and as other held by the personal representative in his .
3. If the court has already determined the of the personal representative, a surety shall not be permitted thereafter to deny liability in any or hearing to determine their liability; but the surety may in any hearing to determine the liability of the personal representative.
4. The of subsections 1, 2, and 3 of this section shall apply to a which has a section 473.160.
5. In assessing damages pursuant to this section, the court may the losses between the depositary and the obligors on the bond of the personal representative on the following basis:
(1) Those damages sustained as a result of the failure of the depositary to hold the assets delivered to it in shall be assessed against the depositary and the personal representative, together with that proportion of the determined to have resulted by reason of such failure;
(2) All other damages sustained as a result of the breach of the obligation of the bond shall be assessed against the obligors on the bond.
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Source & history notes
(L. 1955 p. 385 § 89, A.L. 1980 S.B. 637) Effective 1-01-81
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RSMo 473.210
Effect of new bond
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RSMo 473.213
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Court may require, increase or decrease bond, when
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Action on bond generally
RSMo 473.217
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.