1941_public laws_244_2
CHAPTER 243 AN ACT TO AMEND SECTION NINETEEN OF THE CON- SOLIDATED STATUTES, RELATING TO THE BONDS OF PUBLIC ADMINISTRATORS. The General Assembly of North Carolina do enact:
That Section nineteen of the Consolidated Statutes of one thousand nine hundred and nineteen be rewritten to read as follows: 19. The Public Administrator shall enter into bond, payable to the State of North Carolina, with two or more sufficient sureties to be justified before and approved by the Clerk, or with a duly authorized surety company, in the penal sum of four thousand dollars ($4,000.00), conditioned upon the faithful performance of the duties of his office and obedience to all lawful orders of the Clerk or other court touching the administration of the several estates that may come into his hands and such bonds, if executed by individual sureties, shall be renewed every two years. Whenever the aggregate value of the personal property belonging to the several estates in the hands of the Public Administrator exceeds one-half of his bond, if the bond is signed by personal sureties, or three-fourths of his bond, if the bond shall be executed by a duly authorized surety company, the Clerk shall require him to enlarge his bond in an amount so as to cover at all times at least double the aggregate of the assets of the estates in the hands of said Public Administrator if the bond is signed by personal sureties or one and one-third times the assets if the bond shall be executed by a duly authorized surety company. If the personal property of any decedent is insufficient to pay his debts and the charges of administration and it becomes necessary for the said Public Administrator to apply for the sale of real estate for assets, upon the signing of a judgment ordering the said sale by the Clerk of the Superior Court, or any other court, the Clerk shall include the value of the real estate proposed to be sold in the aggregate value of the property belonging to the several estates in the hands of the Public Administrator. Whenever the aggregate value of the personal property and the real estate that the said Administrator has been authorized to sell exceeds one-half of his bond, if the bond is executed by personal surety, or three-fourths of his bond if the bond shall be executed by a duly authorized surety company, the Clerk shall require him to enlarge his bond as hereinbefore provided as though the aggregate consisted only of personal property.