Chapter 20

15 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 1 CHAPTER 20 OATHS , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 2014 NOTE: Unless otherwise indicated, this Title includes a nnotations drafted by the Law Revision Commission from the ena ctment of Title 15 GCA by P.L. 16-052 (Dec. 17, 1981). The Source not es have been updated to reflect subsequent changes to each provision. Th e Comments from the Law Revision Commission were retained in past print publications of the GCA, and are included herein, as originally publish ed, for historical purposes. Pursuant to the authority granted by 1 GCA § 1606, 'Subchapter' designations altered to 'Article' to adhere to the Compiler’s general codification scheme. ARTICLE 1 OATHS AND FORM OF LETTERS § 2001. Oath: Taking and Subscribing; Endorsement U pon Letters; Filing. § 2003. Form of Letters: Signing and Sealing. § 2005. Letters Testamentary: General Form. § 2007. Letters of Administration With the Will Ann exed: General Form. § 2009. Letters of Administration, General and Spec ial: General Form. § 2001.

ing. § 2005. Letters Testamentary: General Form. § 2007. Letters of Administration With the Will Ann exed: General Form. § 2009. Letters of Administration, General and Spec ial: General Form. § 2001. Oath: Taking and Subscribing; Endorsement U pon Letters; Filing. Before letters testamentary, letters of administrat ion with the will annexed, or letters of administration are issued, t he executor, administrator with the will annexed or administrato r to whom such letters have been granted must take and subscribe an oath t hat he will perform, according to law, the duties of his office, which o ath must be attached to or endorsed upon the letters. The oath may be taken and dated on or after the time when the petition for letters testamentary , letters of administration with the will annexed, or letters of administration is filed, and may be filed with the Clerk of the Superior Cou rt of Guam at any time after the petition is granted by the Superior Court of Guam. SOURCE: California Probate Code, § 540 (as amended). COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 2 § 2003.

. SOURCE: California Probate Code, § 540 (as amended). COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 2 § 2003. Form of Letters: Signing and Sealing. Letters testamentary, or of administration with the will annexed, or of administration, or of special administration, sh all be signed by the Clerk of the Superior Court of Guam under the seal of the Superior Court of Guam. SOURCE: Probate Code of Guam (1970), § 500. § 2005. Letters Testamentary: General Form. Letters testamentary shall be substantially in the following form: ATerritory of Guam. The last will of A.B., deceased, having been proved in the Superior Court of the Territory of Guam, C.D . who is named therein as such, is hereby appointed executor. Witn ess, G.H., Clerk of the Superior Court of Guam, with the seal of the Court affixed, the ____ day of ________, 19___. (Seal.) By order of the Court. G.H., Clerk of the Superior Court of Guam. @ SOURCE: Probate Code of Guam (1970), § 501. § 2007. Letters of Administration With the Will Ann exed: General Form.

19___. (Seal.) By order of the Court. G.H., Clerk of the Superior Court of Guam. @ SOURCE: Probate Code of Guam (1970), § 501. § 2007. Letters of Administration With the Will Ann exed: General Form. Letters of administration with the will annexed sha ll be substantially in the following form: ATerritory of Guam. The last will of A.B., deceased, having been proved in the Superior Court of the Territory of Guam, and there being no executor named in the will (or as the case may be), C.D. is hereby appointed administrator with th e will annexed. Witness, G.H., Clerk of the Superior Court of Guam, with the seal of the Court affixed, the ____ day of ________, 19___. (Se al.) By order of the Court. G.H., Clerk of the Superior Court of Guam. @ SOURCE: Probate Code of Guam (1970), § 501. § 2009. Letters of Administration, General and Spec ial: General Form. Letters of administration, or of special administra tion, shall be sub- stantially in the following form: ATerritory of Guam. C.D. is hereby appointed administrator (or special administrator, as the case may be) of the estate of A.B., deceased.

nistra tion, shall be sub- stantially in the following form: ATerritory of Guam. C.D. is hereby appointed administrator (or special administrator, as the case may be) of the estate of A.B., deceased. Witness, G.H., Clerk of the Superior Court of Guam, with the seal of the Court affixed, the __ __ day of ________, 19___. (Seal.) By order of the Court. G.H., Clerk o f the Superior Court of Guam. @ COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 3 SOURCE: Probate Code of Guam (1970), § 502. ---------- ARTICLE 2 SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 'S TRUST § 2011. General Requirement of Security for Faithfu l Performance; Alteration in Security During Pendency of Administr ation; Security Not Required of Executor If Waived By Will . § 2013. Security May Be Provided By Bond; Requisite s of Bond; Nature of Liability on Bond; Extent of Bond. § 2015. Security May Be Provided By Deposit of Prop er. § 2017. Security May Be Provided By Cash Bond, Assi gned Interest in Bank or Savings and Loan Account or Posting of Bear er or En- dorsed Bonds. § 2019.

ecurity May Be Provided By Deposit of Prop er. § 2017. Security May Be Provided By Cash Bond, Assi gned Interest in Bank or Savings and Loan Account or Posting of Bear er or En- dorsed Bonds. § 2019. Security May Be Provided By Payment of Esta te Income Into Court. § 2021. Security May Be Provided By Deposit of Tang ible Personal Property Into Safety Deposit Box. § 2023. Security May Be Provided By Insurance. § 2025. When Security Becomes Insufficient: Require ment of Further Security; May Be With or Without Hearing; Appointme nt of Person Next In Order; Revocation of Letters. § 2027. Suspension of Personal Representative's Pow ers Pending Hearing. § 2029. Further Security May Be Required On Sale of Real Property. § 2031. Reduction of Security Upon Petition of Pers onal Representative. § 2033. Forms of Security Provided in Subchapter No t Exclusive. § 2011. General Requirement of Security for Faithfu l Performance; Alteration in Security During Pendency of Administr ation; Security Not Required of Executor If Waived By Will. (a) Except as provided in subsections (c) and (d) o f this Section, every person to whom letters testamentary, letters of administration with the will annexed

Required of Executor If Waived By Will. (a) Except as provided in subsections (c) and (d) o f this Section, every person to whom letters testamentary, letters of administration with the will annexed or letters of administration (here after in this Subchapter referred to as Apersonal representative @) are granted shall, before such COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 4 letters are issued, provide security for the faithf ul performance of the trust. The form of the security, the amount thereof , and the terms and conditions thereof, shall be prescribed by the Supe rior Court at the time the letters are granted to the personal representat ive. (b) The Superior Court of Guam may, at any time p rior to the discharge of the personal representative, and upon such notice to the personal representative and to all persons interest ed in the estate as the Superior Court of Guam shall deem adequate, alter t he form, amount, terms or conditions of the security provided pursua nt to the provisions of subsection (a) of this Section.

d in the estate as the Superior Court of Guam shall deem adequate, alter t he form, amount, terms or conditions of the security provided pursua nt to the provisions of subsection (a) of this Section. (c) Letters testamentary may be issued to the exe cutor named in a will without his providing security for the faithfu l performance of his trust as required by subsection (a) of this Section , if it is clearly ascertainable from such will that it was the testat or's intention that no security for faithful performance was to be require d of the executor named therein; provided, that if letters testamenta ry have been so issued the Superior Court of Guam may nevertheless, at any time prior to the discharge of such executor, upon its own motion or upon the petition of any person interested in the estate, for good cause , require such executor to provide security for the faithful performance of his trust as in other cases. (d) Where it appears that the only assets of an e state consist of non- income producing real property or real property in the possession of the United States of America, or of any of the military units of the United States of America for military necessity, the Super

n- income producing real property or real property in the possession of the United States of America, or of any of the military units of the United States of America for military necessity, the Super ior Court may, in its discretion, waive security for the faithful perform ance or the personal representative's trust, as required by subsection ( a) of this Section, until such time as such real property shall yield income or payment is made to the personal representative for such possession, mi litary or otherwise. SOURCE: Subsections (a) - (c): Guam Law Revision Commission . Subsection (d): Probate Code of Guam (1970), § 541; Guam Law Revisi on Commission. COMMENT: Subchapter B of Chapter 20 provides for security fo r the faithful performance of the personal representative. Section 2011 is intended to give the court very broad discretion to establish the form, amount, and terms and conditions of the security to be provided by the personal repr esentative, and to alter the security requirements during the pendency of the ad ministration if changing circumstances so require. The succeeding Sections o f Subchapter B delineate more particularly what form the security might take, alt

quirements during the pendency of the ad ministration if changing circumstances so require. The succeeding Sections o f Subchapter B delineate more particularly what form the security might take, alt hough it should be noted that they COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 5 are not intended to provide an exclusive list of fo rms of security, that matter being left to the discretion of the court by the provisio ns of § 2011. As to this last point, see Comment to § 2033, infra. § 2013. Security May Be Provided By Bond; Requisite s of Bond; Nature of Liability on Bond; Extent of Bond. (a) Security for the faithful performance of the pe rsonal representative's trust, as required by Section 2011 of this Title, may in the discretion of the Superior Court of Guam be, in who le or in part, in the form of a bond. Unless otherwise ordered by the Sup erior Court of Guam, such bond shall be executed to the Government of Guam, with two or more natural persons or a surety company as surety, conditioned that the personal representative shall faithfully e xecute the duties of his trust according to

to the Government of Guam, with two or more natural persons or a surety company as surety, conditioned that the personal representative shall faithfully e xecute the duties of his trust according to law. Such bond shall be approved by the Superior Court of Guam and filed with the Clerk of the Super ior Court of Guam prior to the issue of letters to the personal repre sentative. (b) The liability of principal and sureties upon the bond of a personal representative is in all cases to pay in t he kind of money or currency in which the principal is legally liable. The liability of the personal representative shall not be limited to the penal amount of such bond. The liability of the surety upon such bond sh all be limited to its penal amount, except that if the surety fails to sa tisfy such liability upon demand made after the liability of the principal ha s become established, the surety shall also be liable for interest at the legal rate from the date of the demand on any judgment obtained against such su rety in an action to recover upon such bond, and for costs incurred in o btaining such judgment.

le for interest at the legal rate from the date of the demand on any judgment obtained against such su rety in an action to recover upon such bond, and for costs incurred in o btaining such judgment. Such bond shall not be void upon the firs t recovery, but may be sued and recovered upon from time to time, by an y person aggrieved, in his own name, until the whole penalty is exhaust ed. SOURCE: Subsection (a): Guam Law Revision Commission. Subse ction (b): California Probate Code, § 554 (as amended). COMMENT: The Probate Code of Guam (1970) contained elaborate provisions concerning the form and amount of probate bonds, ju stification of sureties, etc. Such provisions were probably called for under the Probate Code of Guam (1970), as under that Code the probate bond was (with minor exceptions) the only available form of security for the faithful performance of th e personal representative. The Commission notes that the bond requirements contain ed in the Probate Code of Guam (1970) were not often followed by the court; t he reasons for this are unclear, but it may be surmised that one reason was that suc h bonds have long been difficult -- perhaps impossible -- to obtain in Guam.

re not often followed by the court; t he reasons for this are unclear, but it may be surmised that one reason was that suc h bonds have long been difficult -- perhaps impossible -- to obtain in Guam. In any event, the Commission is of the opinion that under the general scheme of Subchapter B of Chapter 20 such COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 6 elaborate provisions are no longer needed: as the c ourt now has very broad discretion to set the form, amount, terms and condi tions of security for the personal representative's faithful performance (see § 2011(a ), supra,) the Commission believes that the court should have the concomitant power to make all necessary determinations as far as bonds are concerned, witho ut legislative constraint. Nonetheless, the Commission is of the opinion that the provisions of subsection (b) are necessary, in that they clarify liability on su ch a bond. § 2015. Security May Be Provided By Deposit of Prop erty. (a) Security for the faithful performance of the pe rsonal representative's trust, as required by Section 2011 of this Title, may in the

ond. § 2015. Security May Be Provided By Deposit of Prop erty. (a) Security for the faithful performance of the pe rsonal representative's trust, as required by Section 2011 of this Title, may in the discretion of the Superior Court of Guam be provide d, in whole or in part, by the deposit of money or negotiable securit ies of the estate which have been, or will be, deposited in a bank or banks in the territory of Guam, or in a trust company or trust companies auth orized to transact business in the territory of Guam, or money which h as been, or will be, invested in an account or accounts in an insured sa vings and loan association or associations in the territory of Gua m, in either case upon condition that such money or securities will not be withdrawn except on authorization of the Superior Court of Guam. (b) If the Superior Court of Guam orders that sec urity for the faithful performance of the personal representative shall be, in whole or in part, as provided in subsection (a) of this Sect ion, letters shall not issue to the personal representative until the Supe rior Court of Guam is satisfied that the bank or trust company into which such money or negotiable securities

) of this Sect ion, letters shall not issue to the personal representative until the Supe rior Court of Guam is satisfied that the bank or trust company into which such money or negotiable securities have been or will be deposite d, or the savings and loan association in which such money has been or wi ll be invested, has been served with a copy of such order, and agreed i n writing that such money or securities will not be withdrawn except on authorization of the Superior Court of Guam, such writing to be filed wi th the Clerk of the Superior Court of Guam. (c) The term Aaccount in an insured savings and loan association, @ as used in this Section, means shares issued by a fede ral savings and loan association doing business in the territory of Guam , or investment certificates issued by a building and loan associat ion or savings and loan association chartered in the territory of Guam and doing business in the territory of Guam, which is an Ainsured institution @ as defined in Title IV of the National Housing Act (Title 12, United State s Code, §§ 1725 to 1730d), or shares issued by a building and loan ass ociation or savings COL1031201415 GCA ESTATES AND PROBATE CH.

ed in Title IV of the National Housing Act (Title 12, United State s Code, §§ 1725 to 1730d), or shares issued by a building and loan ass ociation or savings COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 7 and loan association chartered in the territory of Guam and doing business in the territory of Guam which does not is sue investment certificates and which is an Ainsured institution @ as defined in Title IV of the National Housing Act. SOURCE: Subsections (a) and (b): Guam Law Revision Commissi on. Subsection (c): California Probate Code, § 1510 (as amended). § 2017. Security May Be Provided By Cash Bond, Assi gned Interest In Bank or Savings and Loan Account or Posting of B earer or Endorsed Bonds. Security for the faithful performance of the person al representative's trust, as required by Section 2011 of this Title, m ay in the discretion of the Superior Court of Guam be provided, in whole or in part, by the personal representative's depositing with the Clerk of the Superior Court of Guam a cash bond or cash bonds, or an interest i n account or accounts in a bank or an insured savings

or in part, by the personal representative's depositing with the Clerk of the Superior Court of Guam a cash bond or cash bonds, or an interest i n account or accounts in a bank or an insured savings and loan associatio n (as defined in Section 2015(c) of this Title), or by the posting o f bearer or endorsed bonds of the United States, of any other government al entity (subject to the approval of the Superior Court of Guam), or of a publicly held corporation (subject to the approval of the Superio r Court of Guam), returnable to the personal representative upon his discharge. SOURCE: Guam Law Revision Commission. § 2019. Security May Be Provided By Payment of Esta te Income Into Court. Security for the faithful performance of the person al representative's trust, as required by Section 2011 of this Title, m ay in the discretion of the Superior Court of Guam be provided, in whole or in part, by the payment of regularly-received income of the estate to the Clerk of the Superior Court of Guam, who shall deposit the same into one or more interest-bearing accounts upon receipt thereof; pro vided, that if the Superior Court of Guam orders that security for the faithful performance of

of Guam, who shall deposit the same into one or more interest-bearing accounts upon receipt thereof; pro vided, that if the Superior Court of Guam orders that security for the faithful performance of the personal representative shall be provided, i n whole or in part, as set forth hereinabove in this Section, letters shal l not issue to the personal representative until the Superior Court of Guam is satisfied that each person who pays such regular income to the estate a nd who is affected by such order has been served with a copy of such orde r, and agreed in writing that such money will be paid to the Clerk o f the Superior Court COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 8 of Guam, such writing to be filed with the Clerk of the Superior Court of Guam. SOURCE: Guam Law Revision Commission. § 2021. Security May Be Provided By Deposit of Tang ible Personal Property Into Safety Deposit Box. Security for the faithful performance of the person al representative's trust, as required by Section 2011 of this Title, m ay in the discretion of the Superior Court of Guam be provided, in whole or in

urity for the faithful performance of the person al representative's trust, as required by Section 2011 of this Title, m ay in the discretion of the Superior Court of Guam be provided, in whole or in part, by the deposit of tangible personal property of the estate in a safety deposit box regularly maintained by a bank, trust company or sa vings and loan association in the territory of Guam, such that acc ess to such safety deposit box be limited to the personal representati ve and the Clerk of the Superior Court of Guam (or some person other than t he Clerk of the Superior Court of Guam, in the discretion of the Su perior Court of Guam) acting simultaneously; provided, that if the Superior Court of Guam orders that security for the faithful performa nce of the personal representative shall be, in whole or in part, as se t forth hereinabove in this Section, letters shall not issue to the person al representative until the Superior Court of Guam is satisfied that the bank, trust company or savings and loan association maintaining the safety deposit box into which such property is to be deposited has been ser ved with a copy of such order, and agreed in writing that access to su ch

y or savings and loan association maintaining the safety deposit box into which such property is to be deposited has been ser ved with a copy of such order, and agreed in writing that access to su ch safety deposit box be limited as set forth in such order, such writing to be filed with the Clerk of the Superior Court of Guam. SOURCE: Guam Law Revision Commission. § 2023. Security May Be Provided By Insurance. Security for the faithful performance of the person al representative's trust, as required by Section 2011 of this Title, m ay in the discretion of the Superior Court of Guam be provided, in whole or in part, by the procurement and maintenance by the personal represe ntative of a policy or policies of insurance sufficient to indemnify th e estate for the loss of or damage to the property of the estate which is th e subject- matter of such policy or policies; provided, that in such cas e such policy or policies shall clearly provide that the loss benefi ciary thereunder shall be the estate, and not the personal representative in his individual capacity; and provided further, that if the Superior Court of Guam orders that security for the faithful performance of the person al

the estate, and not the personal representative in his individual capacity; and provided further, that if the Superior Court of Guam orders that security for the faithful performance of the person al representative shall COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 9 be provided, in whole or in part, as set forth here inabove in this Section, letters shall not issue to the personal representat ive until the Superior Court of Guam is satisfied that each insurance comp any providing such policy or policies of insurance has been served wit h a copy of such order, that such policy or policies are in effect, and tha t a certified copy of such policy or policies has been filed with the Clerk of the Superior Court of Guam. SOURCE: Guam Law Revision Commission. § 2025. When Security Becomes Insufficient: Require ment of Further Security; May Be With or Without Hearing; A ppointment of Person Next In Order; Revocation of Letters. (a) Any person interested in an estate may, at any time prior to the discharge of the personal representative, represent to the Superior Court of Guam, by verified petition,

r; Revocation of Letters. (a) Any person interested in an estate may, at any time prior to the discharge of the personal representative, represent to the Superior Court of Guam, by verified petition, that the security pr ovided by the personal representative for the faithful performance of his trust has become insufficient, and ask that further security be requ ired; or, if it comes to the knowledge of the Superior Court of Guam that th e security provided by the personal representative for the faithful per formance of his trust is from any cause insufficient, the Superior Court of Guam may, of its own motion, require further security. (b) If the Superior Court of Guam is satisfied fr om the petition provided for in subsection (a) of this Section, or from its own information, that the matter requires investigation , a citation shall be issued to the personal representative, requiring hi m to appear before the Superior Court of Guam at a designated time to show cause why he should not provide further security for the faithfu l performance of his trust. The citation shall be personally served on t he personal representative by the office of the Marshal of the Superior Court of Guam,

rovide further security for the faithfu l performance of his trust. The citation shall be personally served on t he personal representative by the office of the Marshal of the Superior Court of Guam, at least five (5) calendar days before the re turn day. If the personal representative has absconded, or cannot be found, the citation may be served by leaving a copy thereof at his resi dence, or by such publication as the Superior Court of Guam may order . On the return of the citation, or at such other time as the Superior Court of Guam may appoint, it shall proceed to hear the matter, and i f it satisfactorily appears that the security, from any cause, is insufficient, the Superior Court of Guam shall order the personal representative to pro vide further security, in such form and amount and subject to such terms a nd conditions as COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 10 may be prescribed by the Superior Court of Guam, wi thin five (5) calendar days after the date of the entry of the or der.

ETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 10 may be prescribed by the Superior Court of Guam, wi thin five (5) calendar days after the date of the entry of the or der. (c) If sufficient further security is not provide d within the time fixed by the order of the Superior Court of Guam, as prov ided in subsection (b) of this Section, the right of the personal represen tative shall cease, and the person next entitled to administer the estate, who will give sufficient security for the faithful performance of this trust pursuant to the provi- sions of this Subchapter, shall be appointed. If le tters have already issued to the personal representative, the same shall be r evoked and his authority shall thereupon cease. SOURCE: Subsection (a): Probate Code of Guam (1970), § 547; Guam Law Revision Commission. Subsection (b): Probate Code o f Guam (1970), § 548; Guam Law Revision Commission. Subsection (c): Probate Co de of Guam (1970), § 549; Guam Law Revision Commission. § 2027. Suspension of Personal Representative's Pow ers Pending Hearing. When a petition is presented to the Superior Court of Guam, praying that a personal representative be required to

Commission. § 2027. Suspension of Personal Representative's Pow ers Pending Hearing. When a petition is presented to the Superior Court of Guam, praying that a personal representative be required to provi de further security for the faithful performance of his trust, and it is al leged therein on oath that such personal representative is wasting the propert y of the estate, the Superior Court of Guam may, by its order, suspend t he powers of such personal representative until the matter can be hea rd and determined. Such hearing shall be held, and such determination made, substantially pursuant to the provisions of Section 2025(b) of th is Title. SOURCE: First sentence: California Probate Code, § 550 (as amended); Guam Law Revision Commission. Second sentence: Guam Law Revision Commission. § 2029. Further Security May Be Required On Sale of Real Property. Before any sale of the real property of an estate i s confirmed, the Superior Court of Guam may require the personal rep resentative to provide further security for the faithful performan ce of his trust in light of the increased value of the personal property of the estate, treating the expected proceeds of the sale as personal

e to provide further security for the faithful performan ce of his trust in light of the increased value of the personal property of the estate, treating the expected proceeds of the sale as personal property. SOURCE: Probate Code of Guam (1970), § 542; Guam Law Revisi on Commission. § 2031. Reduction of Security Upon Petition of Pers onal Representative. COL1031201415 GCA ESTATES AND PROBATE CH. 20 OATH , FORM OF LETTERS , AND SECURITY FOR FAITHFUL PERFORMANCE OF PERSONAL REPRESENTATIVE 11 If a personal representative desires a reduction in the amount of security provided for the faithful performance of h is trust, or an alteration in the form, terms or conditions thereof, he may ap ply to the Superior Court of Guam for such relief by filing therein a v erified petition setting forth the condition of the estate. Such petition sh all be set for hearing by the Clerk of the Superior Court of Guam and notice given in the manner provided in Section 3401 of this Title. Upon the he aring of such petition, and upon proof that due notice of the hearing has b een given, the Superior Court of Guam may reduce the amount of sec urity required for the faithful performance of the personal

ng of such petition, and upon proof that due notice of the hearing has b een given, the Superior Court of Guam may reduce the amount of sec urity required for the faithful performance of the personal representa tive's trust to any amount or sum which in the discretion of the Superi or Court of Guam may seem proper under the circumstances, or it may in its discretion alter the form, terms or conditions of such security in a ny manner which may seem proper in the circumstances. SOURCE: California Probate Code, § 553.3 (as amended); Guam Law Revision Commission. § 2033. Forms of Security Provided in Subchapter No t Exclusive. Nothing contained in this Subchapter shall be const rued to mean that the forms of security for the faithful perform ance of the personal representative's trust as set forth in this Subchap ter, or any of them, are the only forms of security for such faithful perfor mance that may be ordered by the Superior Court of Guam, that matter being left to the discretion of the Superior Court of Guam in all cas es. SOURCE: Guam Law Revision Commission. ---------- COL10312014