Compliance Question of the Week
February 26, 2013
Feb. 26, 2013
We have a member who has been appointed as a conservator over another member. She is asking if she is allowed to open more than one conservatorship account and what her bond amount is. What should we do?
Nothing in the conservatorship or guardianship statutes limits the number of accounts that can be opened in this capacity. However, conservators are appointed bond amounts by the court and should speak with either the court or an attorney to determine the best way to manage any accounts.
Questions? Contact the Compliance Hotline: 1.800.546.4465, email@example.com.