Statutes | 4 HCC § 3 Chapter XIII § 79 | 2020
a. In the event that any guardian receives any property, money, or funds of any child while acting as guardian, before taking and receiving into custody such money or funds, the Court may require of such person a bond with sufficient surety to be approved by the Court and in such sum as the Court shall order, conditioned that the guardian will faithfully execute the duties of his/her trust. The following conditions shall form the part of such bond without being expressed therein.
(1) To make an inventory of the entire estate of the child that comes into his/her possession or knowledge and to return the same within such time as the Court may order.
(2) To discharge and manage the estate according to the law and in the best interests of the child, and faithfully discharge his/her trust in relation thereto, and also in relation to the care, custody, and education of the child.
(3) To render an account of the property, estate, and money of the child and all proceeds or interests derived therefore annually and at such other times as the Court directs.
(4) At the expiration of the child&rsquos trust, the guardian shall settle the child&rsquos accounts with the Court, with the child if of the age of majority, or the child&rsquos legal representative. The guardian shall deliver all the estate, monies, and effects to the person who is legally entitled to possession.
(5) The funds of any child must be used by his/her guardian solely for the support and education of such child, and shall be expended by the guardian in a reasonable manner according to the circumstances of the child, and in such manner as can reasonably be afforded according to the income and estate of the child.
b. If determined to be appropriate by the Court, the written Order may set forth that the child&rsquos property may not be used for the child&rsquos care, but rather to be managed for the child until the child reaches the age of eighteen (18) or is emancipated by the Court.