1. (1) No bond is required of a personal representative appointed in formal or informal proceedings, except:

   1. (a) upon the appointment of a special administrator without notice having been given;
   2. (b) when an executor or other personal representative is appointed to administer an estate under a will containing an express requirement of bond;
   3. (c) when bond is requested prior to appointment, by an interested party; or
   4. (d) when bond is required under Section 75-3-605. No bond is required of any personal representative who is exempted from bond under Title 7, Financial Institutions Act.
2. (2) A bond required pursuant to this section may be dispensed with upon a determination by the court that it is not necessary.

Amended by Chapter 258, 2015 General Session