Rule 502. Bond

(a) REQUIREMENT AND AMOUNT. Except as provided in Rule 502(b), a guardian of

the property and estate of a minor child must execute a bond with surety approved by the

court, conditioned for the faithful performance of the guardian’s duties, before taking

control of any assets of the minor child. The penalty of the bond must be the amount

equal to the amount of the personal property, the annual income from the personal

property, and the yearly rents to be derived from the real estate. If it becomes necessary

to sell real estate, the guardian must execute an additional bond in the amount required

by the court before accepting the proceeds from the sale of real estate.

(b) EXCEPTIONS. No bond is required from a regulated financial institution, as defined

in D.C. Code § 26-551.02(18) (2012 Repl.), or a national bank as provided in 12 U.S.C.

§ 92a(f).