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Session Laws, 1969
Volume 692, Page 44   View pdf image
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44                                 LAWS OF MARYLAND                           [CH. 3

value of the personal property of the estate at any time during ad-
ministration less (1) the market value, as determined by the Court,
of any collateral posted with the Court by the personal representa-
tive and (2) the amount of cash belonging to the estate if deposited
with a banking institution approved by the Court in an account ex-
pressly made subject to withdrawal only in such manner as shall be
approved by the Court. The penalty sum may be increased or de-
creased by the Court at its discretion for good cause at any time
during administration.

(d)    Filing. Every bond executed by a personal representative
shall be filed in the office of the Register. Any person may obtain
from the Register a copy of such bond certified by him.

(e)    Premium payable out of estate. Premiums for such bond
shall be chargeable against the property of the estate.

(f)    Form of bond. Such bond shall be substantially in the fol-
lowing form:

The condition of the above obligation is such, that if the said
................................shall well and truly perform the office of the per-
sonal representative of
................................, late of ............................,

deceased, according to law, and shall in all respects discharge the
duties required of him by law as personal representative aforesaid
without any injury or damage to any person interested in the faithful
performance of the said office, then the above obligation shall be
void; it is otherwise to be in full force and effect.

Or if the giving of a bond is excused, the required nominal bond
shall be substantially in the following form:

The condition of the above obligation is such, that if the said

................................shall, as personal representative of........................

late of ................................, pay the debts due by the said deceased

and the Maryland inheritance tax and tax on executors' commissions
payable by the personal representative, then the above obligation
shall be void; it is otherwise to be in full force and effect.

(g)    Additional or new security; countersecurity; remedy.

(1)    Requirement. The Court may require additional security,
new security and countersecurity in accordance with the procedure
set forth in Maryland Rule H6.

(2)    Remedy upon failure to comply. If the personal representa-
tive shall not within a reasonable time fixed by the Court give such
new security or countersecurity as may be required by order of the
Court, if the personal representative shall be removed therefor as
provided by Section 6-306, and if such personal representative shall
fail to account for and deliver the property belonging to the estate
to the newly appointed successor personal representative or special
administrator, the Court may