2023 Illinois Compiled Statutes › Chapter 755 - ESTATES › 755 ILCS 5/ - Probate Act of 1975. › Article XII - Bonds - Oaths - Acceptance of Office

(755 ILCS 5/Art. XII heading)
ARTICLE XII
BONDS - OATHS - ACCEPTANCE OF OFFICE
(755 ILCS 5/12-1) (from Ch. 110 1/2, par. 12-1)
Sec. 12-1. 
		
		Corporate representative - acceptance of
office.) The bonds provided for in this Act, except appeal
bonds, are not required of corporations qualified to
administer trusts in this State. Before entering upon the
performance of its duties, a corporate representative shall
file in the court an acceptance of office.
(Source: P.A. 79-328.)
(755 ILCS 5/12-2) (from Ch. 110 1/2, par. 12-2)
Sec. 12-2. Individual representative; oath and bond.
(a) Except as provided in subsection (b), before undertaking the
representative's duties, every individual representative shall take and file an
oath or affirmation that the individual will faithfully discharge the duties of
the office of the representative according to law and shall file in and have
approved by the court a bond binding the individual representative so to do.
The court may waive the filing of a bond of a representative of the person of a
ward or of a standby guardian of a minor or person with a disability.
(b) Where bond or security is excused by the will or as provided in
subsection (b) of Section 12-4, the bond of the representative in the
amount from time to time required under this Article shall be in full force
and effect without writing, unless the court requires the filing of a written
bond.
(Source: P.A. 99-143, eff. 7-27-15.)
(755 ILCS 5/12-3) (from Ch. 110 1/2, par. 12-3)
Sec. 12-3. 
		
		Surety.) Every bond provided for in this
Article must have as security thereon not less than 2 sureties
acceptable to the court or one surety company qualified
to do business in this State and acceptable to the court.
(Source: P.A. 79-328.)
(755 ILCS 5/12-4) (from Ch. 110 1/2, par. 12-4)
Sec. 12-4. When security excused or specified.)
(a) Except as provided
in paragraph (c) of Section 6-13 with respect to a nonresident executor, no
security is required of a person who is excused by the will from giving
bond or security and no greater security than is specified by the will
is required, unless in either case the court, from its own knowledge or
the suggestion of any interested person, has cause to suspect the
representative of fraud or incompetence or believes that the estate of
the decedent will not be sufficient to discharge all the claims  against
the estate, or in the case of a testamentary guardian of the estate,
that the rights of the ward will be prejudiced by failure to give security.
(b) If a person designates a guardian of his person or estate or
both to be appointed in the event he is adjudged a person with a disability 
as provided in Section 11a-6 and excuses the guardian from giving
bond or security, or if the guardian is the Office of State Guardian, the
guardian's bond in the amount from time to time
required under this Article shall be in full force and effect without
writing, unless the court requires the filing of a written bond.
(c) The Office of State Guardian shall not be required to have sureties or
surety companies as security on its bonds.  The oath and bond of the
representative without surety shall be sufficient.
(Source: P.A. 99-143, eff. 7-27-15.)
(755 ILCS 5/12-5) (from Ch. 110 1/2, par. 12-5)
Sec. 12-5. 
		
		Amount of bond.) (a) The bond of a
representative shall be for an amount not less than double the value
of the personal estate if individuals act as sureties or if bond or
security is excused, and not
less than 1 1/2 times the value of the personal estate if a
surety company acts as surety. If the representative takes
possession of the decedent's or ward's real estate, the bond
shall be for such additional amount as the court determines,
having regard to the income from the real estate.
(b) For the purpose of fixing the amount of the bond,
a cause of action for wrongful death of the decedent or for
personal injury to the ward is considered of the value
of $500, but unless excused by the court from doing so,
it is the duty of the representative to file in and have approved
by the court a bond for an amount not less than double the
amount likely to come into his hands as the proceeds of the
judgment or settlement if individuals act as sureties and not
less than 1 1/2 times the amount likely to come into his hands
as the proceeds of the judgment or settlement if a surety
company acts as surety.
(Source: P.A. 84-555; 84-690.)
(755 ILCS 5/12-6) (from Ch. 110 1/2, par. 12-6)
Sec. 12-6. 
		
		Waiver or reduction of bond of representative of ward in
certain cases.) (a) If the primary purpose for the appointment of a
representative of a ward is the sale of the ward's interest in real
estate pursuant to Section 25-4, the court may waive the surety on the
bond of the representative or may fix the amount of the bond in a sum
less than $1,000.
(b) If the primary purpose for the appointment of a representative
of a ward is the proper expenditure of public assistance awarded to the
ward under any Act of the General Assembly of this State, the court may
waive the giving of a bond by the representative.
(c) If (1) the primary purpose for the appointment of a
representative of a ward is the collection, disbursement or
administering of moneys awarded by the Veterans Administration to the
ward, (2) the net value of the ward's estate does not exceed $500,
including accrued unpaid benefits to be received, (3) the benefits to be
received do not exceed $60 per month and (4) substantially all income
will be required for the maintenance of the ward and his dependents, the
court may waive the giving of bond by the representative or may fix the
amount of the bond in a sum less than $500. If the bond has previously
been filed, it may be released upon the conditions prescribed in this
Section upon proper accounting after notice to the Veterans'
Administration Regional Office.
If a bond has been waived or nominal bond only required, an
adequate bond as otherwise required by this Section shall be  required
whenever the value of the estate exceeds $500 or for other cause
appearing to the court.
(Source: P.A. 79-328; 79-358; 79-1454.)
(755 ILCS 5/12-7) (from Ch. 110 1/2, par. 12-7)
Sec. 12-7. 
		
		Deposit in lieu or reduction of bond.)
Upon petition of a representative and upon such notice as the
court directs, the court may order the representative to
deposit for safe-keeping with a corporation qualified to
accept and execute trusts in this State such portion or all
of the personal estate as the court deems proper, subject
to the further order of the court, and that the bond of the
representative be reduced so as to cover only the estate
remaining in the possession or custody of the representative.
(Source: P.A. 79-328.)
(755 ILCS 5/12-8) (from Ch. 110 1/2, par. 12-8)
Sec. 12-8. 
		
		Joint or several bonds.) (a) The court may permit a
representative of the estates or persons of more than one ward to
include his obligations to some or all in one bond.
(b) When 2 or more persons are appointed representatives of the same
estate or person, the court may take a separate bond with sureties from
each or a joint bond with sureties from both or all.
(Source: P.A. 80-1415.)
(755 ILCS 5/12-9) (from Ch. 110 1/2, par. 12-9)
Sec. 12-9. 
		
		Additional bond for proceeds of sale or mortgage.) (a) Except
as provided in subsection (d), at or before the entry of an order
authorizing a representative to sell or mortgage real estate or any
interest therein or to sell any oil, gas, coal or other mineral interest
and before a representative sells or mortgages real estate or any interest
therein pursuant to a power in the will or pursuant to subsection (i) of
Section 28-8, the representative shall file a bond and have it approved by
the court.
(b) Where written additional bond is required, the bond shall
identify the real estate or interest therein being sold or mortgaged.
(c) The bond shall be for an amount not less than
double the value of the personal estate likely to come into
the hands of the representative as proceeds of the sale or
mortgage if individuals act as sureties and not less than
1 1/2 times that value if a surety company acts as surety; but
in case of the sale of any oil, gas, coal or other mineral
interest upon a royalty basis and not for a lump sum, and except as
provided in subsection (d), the bond prescribed in this Section shall be
for such an amount as the court directs.
(d) Where bond or security by the representative is excused
by the will, the bond of the representative shall be increased without
writing by double the value of the personal estate coming from time to time
into the hands of the representative from the proceeds of such sale or
mortgage, unless the court requires the filing of a written additional bond.
(Source: P.A. 84-555; 84-690.)
(755 ILCS 5/12-10) (from Ch. 110 1/2, par. 12-10)
Sec. 12-10. 
		
		Further bond or security.) (a) If letters are
issued to a representative without his giving sufficient
bond or security or if his bond or the security therefor
becomes excessive or insufficient in the judgment of the court,
it may on petition of any interested person or on its own
motion require the representative to give a proper bond or
security.
(b) At each accounting of a representative other than
the final accounting, it is the duty of the court to inquire
into the sufficiency of the security and of the bond.
(Source: P.A. 79-328.)
(755 ILCS 5/12-11) (from Ch. 110 1/2, par. 12-11)
Sec. 12-11. 
		
		Counter security - release of surety.)
(a) If the court believes a representative to be insolvent or in
doubtful circumstances, upon petition of the surety on his
bond, the court may require the representative to give counter
security to his surety.
(b) If a representative or the surety on his bond
petitions the court to have the surety released from further
liability on the bond, except for good cause shown the court
shall require the representative within a reasonable time
to be fixed by the court to settle his accounts and to give
a new bond in such amount and security as may be approved by
the court.
(c) Notice of hearing on the account shall be given
as provided by this Act for the hearing on final accounts.
Upon approval by the court of the account and of the new
bond the surety on the old bond is discharged from all
further liability.
(d) If a representative fails to pay the annual bond premium within
120 days of the date he has received notice from the surety company that
the premium is due and owing, the surety company may elect to terminate
its liability on the bond by notifying the representative and his attorney,
if any, and all interested parties that liability on the bond shall cease
60 days after the date of said notice which shall be given by certified
mail and a copy thereof shall be filed with the Court forthwith.  If payment
is not made within the required time, the terminating surety shall by motion
notify the court of its election to terminate and shall give notice of such
motion to the representative and all interested parties.  The court shall
then require the representative to give a new bond in such amount and with
such security as it may require.
(Source: P.A. 83-859.)
(755 ILCS 5/12-12) (from Ch. 110 1/2, par. 12-12)
Sec. 12-12. 
		
		Notice to representative of action on
bond - answer.) Unless the representative is before the court in
person or by his attorney, he is entitled to such reasonable
notice of any contemplated action of the court to require
sufficient bond or security or counter security or to release a
surety on his bond as the court may provide and he may file
an answer setting up any reasons he may have why the court
should not take such action.
(Source: P.A. 79-328.)
(755 ILCS 5/12-13) (from Ch. 110 1/2, par. 12-13)
Sec. 12-13. 
		
		New or additional bond.) A new or additional
bond, other than an additional bond for the sale or mortgage
of real estate, must be signed, approved and filed in the
same manner as other bonds of representatives and relates
back to the date of the issuance of the letters.
(Source: P.A. 79-328.)
(755 ILCS 5/12-14) (from Ch. 110 1/2, par. 12-14)
Sec. 12-14. 
		
		Bond on appeal.) A bond of a representative
on appeal from the order or judgment of any court must be
in the form prescribed by law in other civil cases, except
that the bond of a representative of a decedent's estate
must be conditioned to pay the judgment with costs in due
course of administration and the bond of a representative of
a ward's estate must be conditioned to pay the judgment
with costs as he has funds therefor.
(Source: P.A. 79-328.)
(755 ILCS 5/12-15) (from Ch. 110 1/2, par. 12-15)
Sec. 12-15. 
		Suit on bond. 
		Suit on a bond executed
under this Act may be prosecuted against one or more of the
obligors named in the bond in the name of the people of the State
of Illinois for the use of any person who may have been
injured by reason of the neglect or improper conduct of the
principal on the bond. Suits may be prosecuted on the bond
from time to time and the bond does not become void on a
recovery thereon until the whole penalty is recovered. It is not necessary to
a recovery that a devastavit shall have previously been established against the
principal.
A
copy of the bond, authenticated by the clerk of the court,
is admissible in evidence to authorize recovery on the bond.
The person for whose use suit on a bond is prosecuted is
liable for all costs which may be taxed by the court in which
suit is brought if the plaintiff fails to recover thereon.
(Source: P.A. 89-364, eff. 8-18-95.)