Order not granted; bond given by interested person
Sec. 4. An order authorizing a personal representative to sell,
mortgage or lease real or personal property for the payment of
obligations of the estate shall not be granted if any of the persons
interested in the estate shall execute and file in the court a bond in
such sum and with such sureties as the court may approve,
conditioned to pay all obligations of the estate to the extent that the
other property of the estate is insufficient therefor, within such time
as the court shall direct. An action may be maintained on such bond
by the personal representative on behalf of any person interested in
the estate who is prejudiced by breach of any obligation of the bond.
(Formerly: Acts 1953, c.112, s.1504.)
Last modified: May 27, 2006