MI HB5192

Amends MCL 700.5410 to establish mandatory bonding requirements for conservators when the value of liquid assets under their control exceeds the limit for administering a decedent's estate under section 3982, adjusted annually.

Exempts conservators from bonding requirements if: the estate contains no property readily convertible to cash and cash is in a restricted account, the conservator holds trust powers under the banking code, requiring a bond would impose financial hardship on the estate, or the court states reasons on the record why a bond is unnecessary.

Specifies that bonds must be conditioned on faithful discharge of conservator duties and sets the bond amount at the aggregate capital value of estate property plus one year's estimated income, minus restricted securities and land the conservator lacks power to sell without court authorization.

Allows courts to accept alternative security instead of sureties, including pledges of securities or mortgages of land.

Effective only if House Bill 4619 and Senate Bill (or House Bill 5194) are enacted into law.