Colorado § 15-14-416 - Terms and requirements of bond.
Full text of Colorado Colorado Revised Statutes § 15-14-416 — Terms and requirements of bond., with citation guidance and answers to common questions.
§ 15-14-416. Terms and requirements of bond.
(1) The following rules apply to any bond required:
(a) Except as otherwise provided by the terms of the bond, sureties and the conservator are jointly and severally liable.
(b) By executing the bond of a conservator, a surety submits to the jurisdiction of the court that issued letters to the primary obligor in any proceeding pertaining to the fiduciary duties of the conservator in which the surety is named as a party. Notice of any proceeding must be sent or delivered to the surety at the address shown in the court records at the place where the bond is filed and to any other address then known to the petitioner.
(c) On petition of a successor conservator or any interested person, a proceeding may be brought against a surety for breach of the obligation of the bond of the conservator.
(d) The bond of the conservator may be proceeded against until liability under the bond is exhausted.
(e) Unless otherwise directed by the court, the cost of the bond shall be paid from the protected person's estate.
(2) A proceeding may not be brought against a surety on any matter as to which an action or proceeding against the primary obligor is barred.
(3) If there is a request for the waiver or reduction of a surety upon a bond, the court may require the conservator to supply the court with a credit report, a statement of the conservator's assets, liabilities, income, and expenses, and a statement about any interests the conservator may have in or liability to the conservatorship estate, or any other information the court may wish to consider.
Source: L. 2000: Entire part R&RE, p. 1817, § 1, effective January 1, 2001 (see § 15-17-103).
Editor's note: This section is similar to former § 15-14-412 as it existed prior to 2001.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-14-416
What does Colorado Revised Statutes § 15-14-416 cover?
Section 15-14-416 ("Terms and requirements of bond.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-14-416?
A common citation format is "Colorado Revised Statutes § 15-14-416" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-14-416 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.