Section 473.160

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 28 Aug 1985   

  473.160.  Bond not required, when. — 1.  When, by the terms of the will, the testator expresses a wish that no bond be required of the personal representative, no bond shall be required unless the court, in its discretion, finds it proper to require it; but the court, in its discretion, may at any subsequent time require a bond to be given.

  2.  Any assets of an estate may be deposited at any time with a depositary upon such terms as may be prescribed by order of the court and the amount of the bond of the personal representative may be reduced in proportion to the value of the assets deposited.  Such assets may not thereafter be withdrawn from deposit without an order of the court which may also require that an additional bond be filed and approved before the withdrawal.

  3.  No bond shall be required of any corporation which at the time of its appointment by the court as personal representative has a certificate of the director of finance of the state of Missouri that such corporation has complied with the provisions of section 362.590.

  4.  No bond shall be required if the court, upon good cause shown, finds that a bond is not required for the protection of interested parties.

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(L. 1955 p. 385 § 75, A.L. 1971 S.B. 163, A.L. 1980 S.B. 637, A.L. 1985 S.B. 35, et al.)