Any probate or fiduciary bond ordered by the court can only be released by the court. A Final Discharge is necessary for this type of bond to be canceled. Premium accrues until a discharge is approved by court order.
Most (court) bonds have a yearly renewal premium, and will continue to renew until there is a Final Discharge.
The first years premium is fully-earned upon issuance. Any premiums paid for subsequent years will be returned pro-rata to the date of discharge.
Your attorney will be able to assist you with having the amount increased or lowered via court order.
Yes. Unless you are told otherwise by H.M. Vreeland, the entire application must be completed.
Please refer to the Collateral Security Agreement and the Release of Collateral Policy.
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