New Mexico § 45-3-604 - Bond amount; security; procedure; reduction
Full text of New Mexico New Mexico Statutes Annotated § 45-3-604 — Bond amount; security; procedure; reduction, with citation guidance and answers to common questions.
§ 45-3-604. Bond amount; security; procedure; reduction
A. If bond is required and the provisions of the will or order do not specify the
amount, unless stated in his application or petition, the person qualifying shall
file a statement under oath indicating his best estimate of the value of the personal
estate of the decedent and of the income expected from the personal and real estate
during the next year, and he shall execute and file a bond, or give other suitable
security, in an amount no less than the estimate. The court shall determine that the bond is executed by a corporate surety, or one
or more individual sureties, acceptable to the court. B. The court may permit the amount of the bond to be reduced by the value of assets
of the estate deposited with a domestic financial institution, as defined in Section
6-101, in a manner that prevents their unauthorized disposition. C. On petition of the personal representative or another interested person, the district
court may: (1) excuse a requirement of bond; (2) increase or reduce the amount of the bond; (3) release sureties; or (4) permit the substitution of another bond with the same or different sureties.
Frequently Asked Questions About New Mexico § 45-3-604
What does New Mexico Statutes Annotated § 45-3-604 cover?
Section 45-3-604 ("Bond amount; security; procedure; reduction") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. 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 New Mexico § 45-3-604?
A common citation format is "New Mexico Statutes Annotated § 45-3-604" (New Mexico). 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 New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-3-604 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico 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 New Mexico.