KRS 395.130: Bond, when required -- Cost of corporate surety paid from estate.

(1) No bond shall be required of a personal representative appointed under this chapter

except as provided in subsection (2) of this section.

(2) The court shall order a surety bond of a personal representative appointed under this

chapter when the:

(a) Appointment is of a public administrator under KRS 395.380 or a curator

under KRS 395.410; or

(b) Court, in its discretion, determines that a surety bond is required to adequately

protect all interests in the estate. In exercising its discretion under this

paragraph, the court may consider the:

1. Expression of intent of the testator under a will or trust; however,

notwithstanding any other law to the contrary, the court shall not be

bound by the expressed intent; and

2. Experience of the personal representative, including whether or not the

personal representative is acting as a fiduciary in any other matter.

(3) (a) Every fiduciary of whom surety bond is required under subsection (2) of this

section shall provide the surety bond as ordered by the court.

(b) On motion of any interested party the court may:

1. Reduce or increase the amount of the surety bond; or

2. Permit the substitution of another surety bond with the same or different

sureties.

(4) If an executor does not give surety bond when required to do so, he or she shall not

be authorized to act as executor, and, if he or she has already been appointed, sha ll

be removed.

(5) Whenever any personal representative, guardian, conservator, or fiduciary who is

required by law to execute a surety bond for the faithful discharge of his or her

duties or fulfillment of his or her trust, procures as surety on his or he r bond an

incorporated surety company authorized to do business in this state, the necessary

and reasonable cost incident to the surety bond shall be a lawful charge against the

estate in the hands of the fiduciary, as other expenses of administration, and in his

or her settlement the fiduciary shall be entitled to credit by the amount actually paid

by him or her for that purpose, subject to the approval of the court which has

approved the surety bond.