JUDICIAL COURT BONDS
Filed by litigants in court actions to permit them to pursue remedies at law.
- Separated into two groups: Plaintiffs and Defendants
- Defendant bonds are generally written with collateral
- Court bonds cannot be cancelled
FIDUCIARY COURT BONDS
Required of a person appointed by court to handle the affairs of those who are unable to manage their own affairs.
- Administrator/executor handles assets/debts of a deceased estate
- Guardian or conservator handles the affairs of a minor or incompetent adult
- The receiver or trustee is appointed by court for those in financial difficulties or legally bankrupt