Mississippi § 9-5-103 - Bonds of receivers, assignees, executors may be reduced or cancelled, if excessive or for sufficient cause.
Full text of Mississippi Mississippi Code of 1972 Annotated § 9-5-103 — Bonds of receivers, assignees, executors may be reduced or cancelled, if excessive or for sufficient cause., with citation guidance and answers to common questions.
§ 9-5-103. Bonds of receivers, assignees, executors may be reduced or cancelled, if excessive or for sufficient cause.
Whenever it shall appear by petition to the chancery court, or chancellor in vacation, that any bond given by an assignee, receiver, executor, administrator, guardian, or trustee is in excess of the value of the estate being administered, and as such is an unnecessary expense to the estate, or that other sufficient cause appears for so doing, the chancery court or chancellor in vacation may, after five days’ service of copy of said petition on the surety, cancel the bond or reduce the same to an amount sufficient to protect the estate, or accept a new bond in substitution of an existing one. However, the decree rendered shall not affect the liability upon a bond which accrued prior to its cancellation, reduction or substitution.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 9-5-103
What does Mississippi Code of 1972 Annotated § 9-5-103 cover?
Section 9-5-103 ("Bonds of receivers, assignees, executors may be reduced or cancelled, if excessive or for sufficient cause.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 9-5-103?
A common citation format is "Mississippi Code of 1972 Annotated § 9-5-103" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 9-5-103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.