98

LAWS OF MARYLAND

REPRESENTATIVES PAYABLE BY THE PERSONAL REPRESENTATIVE.
THE BOND SHALL BE CONDITIONED ACCORDINGLY.

(2) EVEN IF A BOND IS NOT REQUIRED AS A
CONDITION OF THE APPOINTMENT OF A PERSONAL
REPRESENTATIVE, THE COURT MAY REQUIRE A BONE DURING THE
ADMINISTRATION UPON THE PETITION OF AN INTERESTED PERSON
OR CREDITOR AND FOR GOOD CAUSE SHOWN.

(C)   WHEN NOT REQUIRED.

(1)    A "BANKING INSTITUTION," AS DEFINED IN
§63 OF ARTICLE 11, SERVING AS A PERSONAL REPRESENTATIVE
IS NOT REQUIRED TO GIVE A BOND.

(2)    A BOND [[MAY]] SHALL NOT BE REQUIRED FOR
ANY PERIOD FOLLOWING THE FINAL APPROVAL OF THE FINAL
ADMINISTRATION ACCOUNT.

(D)   SURETY.

THE SURETY ON THE BOND MAY BE A CORPORATION
AUTHORIZED TO ACT AS A SURETY IN THE STATE OR ONE OR MORE
INDIVIDUALS APPROVED BY THE REGISTER. UNLESS OTHERWISE
ORDERED BY THE COURT, ALL SURETIES AND THE PERSONAL
REPRESENTATIVES ARE JOINTLY AND SEVERALLY LIABLE ON THE
BOND.

(E)   PENALTY.

THE PENALTY SUM OF A BOND SHALL BE FIXED BY THE

COURT OR REGISTER IN AN AMOUNT NOT EXCEEDING THE PROBABLE

MAXIMUM VALUE OF THE PERSONAL PROPERTY OF THE ESTATE
DURING ADMINISTRATION LESS:

(1)    THE MARKET VALUE, AS DETERMINED BY THE
COURT, OF COLLATERAL POSTED WITH THE COURT BY THE
PERSONAL REPRESENTATIVE; AND

(2)    THE AMOUNT OF CASH BELONGING TO THE
ESTATE IF DEPOSITED WITH A BANKING INSTITUTION APPROVED
BY THE COURT IN AN ACCOUNT EXPRESSLY MADE SUBJECT TO
WITHDRAWAL ONLY IN A MANNER THAT IS APPROVED BY THE
COURT.

(3) THE PENALTY SUM MAY BE INCREASED OR

DECREASED BY THE COURT IN ITS DISCRETION FOR GOOD CAUSE
AT ANY TIME DURING ADMINISTRATION.

(F) FILING; CERTIFIED COPY.

EVERY BOND EXECUTED BY A PERSONAL REPRESENTATIVE
SHALL BE FILED IN THE OFFICE OF THE REGISTER. A PERSON

[Ch. 11