(2)(a) The court may waive a bond for good cause shown.
(b) Subsection (1) of this section does not affect the provisions of ORS 709.240, relating to a trust company acting as fiduciary, ORS 125.715, relating to a county public guardian and conservator acting as fiduciary, ORS 125.687, relating to the Oregon Public Guardian and Conservator or a deputy public guardian and conservator acting as fiduciary under ORS 125.675 to 125.691, or ORS 406.050 (10), relating to the Department of Veterans’ Affairs acting as fiduciary.
(3) Sureties for a bond required under this section are jointly and severally liable with the conservator and with each other.
(4) Letters of conservatorship may not be issued until the bond required by this section is approved by the court.
(5) The bond of the conservator continues in effect until the sureties on the bond are released by order of the court.
(6) The court may at any time increase or reduce the amount of the bond required of a conservator for the protection of the protected person and the estate of the protected person.
(7) If a surety on a bond required by this section gives notice of intent to cancel the bond, the conservator shall execute and file in the protective proceeding a new bond before the cancellation date specified by the surety. The new bond shall be in the amount and subject to those conditions that may be required by the court. If the conservator fails to file a new bond, the authority of the conservator ends on the date specified by the surety for cancellation of the bond. The letters of conservatorship issued to the conservator are void from that date, and the conservator must make and file the final accounting of the conservator. [1995 c.664 §36; 2001 c.102 §5; 2005 c.625 §66; 2009 c.602 §4; 2014 c.117 §21; 2015 c.381 §7]