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The committee for incompetent bond guarantees the faithful
performance of the fiduciary who is appointed by the
court for administration of the property of an incompetent
person. When the person has been declared incompetent
of managing their own business by virtue of age, illness
or accident, the fiduciary will take the responsibilities
of performance. The surety will guarantee the obligee
that the principal will perform the faithful performance
of the duties as the trustee and comply with the order
of the court. The penalty amount for the bond will be
subject to the value of the property under the administration.
The committee is also called as conservator or a curator.
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