(a) It shall be lawful for the circuit court of the proper county, for any of the purposes intended by § 18-60-401, and before or after any proceedings by virtue thereof, to appoint a guardian for any minor, whether the minor resides in or out of this state. The guardian, for all the purposes of this act, shall have the same powers as any general guardian.
(b) It shall be the duty of any court appointing any guardian for any minor entitled to any moneys arising from the sale in §§ 18-60-420 — 18-60-423 to require of the guardian a bond to the state, with such security as the court shall deem sufficient, conditioned for the faithful discharge of the duty or trust committed to him or her and that he or she will render a just and true account of his or her guardianship in all courts and places when required.