{"id":918,"date":"2013-04-22T02:20:23","date_gmt":"2013-04-22T02:20:23","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=918"},"modified":"2017-01-03T16:20:37","modified_gmt":"2017-01-03T16:20:37","slug":"ohio-administrator-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/ohio-administrator-bond\/","title":{"rendered":"Ohio Administrator Bond"},"content":{"rendered":"<p>An <strong><a title=\"Surety One judicial bond page\" href=\"https:\/\/suretyone.com\/judicial-bonds\" target=\"_blank\">Ohio administrator bond<\/a><\/strong> is required by law from ANY party acting as a fiduciary except for a few very specific exceptions AND where the overseeing court concurs. \u00a0Ohio statutes define a &#8220;fiduciary&#8221; as\u00a0any person, other than an assignee or trustee for an insolvent debtor or a guardian, appointed by and accountable to the probate court and acting in a fiduciary capacity for any person, or charged with duties in relation to any property, interest, trust, or estate for the benefit of another (<a title=\"OH Fiduciary laws\" href=\"http:\/\/codes.ohio.gov\/orc\/2109\" target=\"_blank\">Chapter 2109: FIDUCIARIES<\/a>). \u00a0The <strong>Ohio administrator bond<\/strong> must be filed with the court\u00a0prior to the issuance of the <strong>fiduciary&#8217;s letters<\/strong> as provided by section\u00a0<a title=\"2109.02\" href=\"http:\/\/codes.ohio.gov\/orc\/2109.02\">2109.02<\/a>\u00a0of the Ohio Revised Code. The\u00a0penal sum of the <strong><a title=\"Ohio fiduciary bond form\" href=\"http:\/\/www.supremecourt.ohio.gov\/LegalResources\/Rules\/superintendence\/probate_forms\/decedentEstate\/4_2.pdf\" target=\"_blank\">Ohio fiduciary bond<\/a><\/strong>\u00a0must be written in an amount that is fixed by the court, but in no event less than double the probable value of the personal property and of the annual real property rentals that will come into the possession or under the control of the person as a fiduciary.\u00a0The Ohio fiduciary bond shall be in a form approved by the court and signed by one or more corporate sureties approved by the court. The <strong>Ohio administrator bond<\/strong> must be conditioned that the fiduciary faithfully and honestly will discharge the duties devolving upon the person as fiduciary, and shall be conditioned further as may be provided by law. \u00a0The court may require increases in the penal amount of the Ohio administrator bond \u00a0when a party moves the court to consider the current amount and the court determines that an increase is needed, or after an administrator files an inventory of assets and the court deems the surety bond insufficient. \u00a0If after notice is given a fiduciary fails to provide a new, increased <strong>Ohio administrator bond<\/strong>, then the court must remove the fiduciary.\u00a0<strong>Ohio surety leader<\/strong>, \u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a>\u00a0is one of the largest fiduciary bond underwriters in the United States. \u00a0Our unique solutions can provide you the\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">fiduciary bond<\/a>\u00a0that you need. \u00a0We can offer you <a title=\"Surety One judicial bond page\" href=\"https:\/\/suretyone.com\/judicial-bonds\" target=\"_blank\">Ohio\u00a0probate bond<\/a>\u00a0terms no matter what your financial condition.\u00a0Visit us at\u00a0<a title=\"Surety One\" href=\"https:\/\/suretyone.com\/\" target=\"_blank\">SuretyOne.com<\/a>, call\u00a0<span style=\"color: #ff0000;\">(787) 333-0222<\/span>\u00a0or\u00a0<span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email\u00a0<span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0<strong>Ohio administrator bond<\/strong>\u00a0application or information about any\u00a0<em>fiduciary bond.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Ohio administrator bond is required by law from ANY party acting as a fiduciary except for a few very specific exceptions AND where the overseeing court concurs. \u00a0Ohio statutes define a &#8220;fiduciary&#8221; as\u00a0any person, other than an assignee or&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/ohio-administrator-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[219],"tags":[1137,1138,1139,1140,1141],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ohio Administrator Bond &bull; Surety One, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/ohio-administrator-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ohio Administrator Bond &bull; Surety One, Inc.\" \/>\n<meta property=\"og:description\" content=\"An Ohio administrator bond is required by law from ANY party acting as a fiduciary except for a few very specific exceptions AND where the overseeing court concurs. \u00a0Ohio statutes define a &#8220;fiduciary&#8221; as\u00a0any person, other than an assignee or... 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Continue Reading &rarr;","og_url":"https:\/\/suretyone.com\/blog\/ohio-administrator-bond\/","og_site_name":"Surety One, Inc.","article_publisher":"https:\/\/www.facebook.com\/Surety1\/","article_author":"https:\/\/www.facebook.com\/Surety1","article_published_time":"2013-04-22T02:20:23+00:00","article_modified_time":"2017-01-03T16:20:37+00:00","twitter_card":"summary","twitter_creator":"@SuretyOne","twitter_site":"@SuretyOne","twitter_misc":{"Written by":"C. 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