Georgia § 53-6-50 - Persons required to give.

§ 53-6-50. Persons required to give.

Unless otherwise provided in this Code section, any person who seeks to qualify to serve as the personal representative of an intestate estate or as a temporary administrator shall be required to give bond with good and sufficient security. A national banking association or a bank or trust company organized under the laws of this state that seeks to qualify as a personal representative of an intestate estate or temporary administrator shall not be required to give bond for the faithful performance of its duties unless its combined capital, surplus, and undivided profits are less than $400,000.00 as reflected in its last statement filed with the comptroller of the currency of the United States or the commissioner of banking and finance or unless the instrument under which it seeks to qualify expressly provides that it shall give bond. A person petitioning to qualify as a personal representative of an intestate estate may be relieved from the requirement for giving bond by the unanimous consent of the heirs of the estate. With respect to any heir who is not sui juris, consent may be given by the guardian of the individual. The personal representative of a deceased heir is authorized to consent for that heir. In no case may consent on behalf of an heir who is not sui juris be effective if the person consenting is the person petitioning to serve as personal representative. The provisions of this Code section shall not apply to bonds described in Code Section 53-6-41 and Code Section 53-6-53 . (Code 1981, § 53-6-50 , enacted by Ga. L. 1996, p. 504, § 10; Ga. L. 1998, p. 1586, § 25.) Cross references. - Provisions regarding exemption of financial institutions from fiduciary bond or security requirements, § 7-1-311 . Law reviews. - For article surveying wills, trusts, and administration of estates, see 34 Mercer L. Rev. 323 (1982).