(

a) Except as otherwise provided by statute, every person appointed as guardian or conservator shall, before letters are issued, give a bond approved by the court. (

b) The bond shall be for the benefit of the ward or conservatee and all persons interested in the guardianship or conservatorship estate and shall be conditioned upon the faithful execution of the duties of the office, according to law, by the guardian or conservator. (

c) Except as otherwise provided by statute, unless the court increases or decreases the amount upon a showing of good cause, the amount of a bond given by an admitted surety insurer shall be the sum of all of the following:

(1) The value of the personal property of the estate.

(2) The probable annual gross income of all of the property of the estate.

(3) The sum of the probable annual gross payments from the following: (

A) Part 3 (commencing with

Section 11000) of,

Part 4 (commencing with

Section 16000) of, or

Part 5 (commencing with

Section 17000) of, Division of the Welfare and Institutions Code. (

B) Subchapter II (commencing with

Section 401) of, or Part A of Subchapter XVI (commencing with

Section 1382) of,

Chapter of Title of the United States Code. (

C) Any other public entitlements of the ward or conservatee.

(4) On or after January 1, 2008, a reasonable amount for the cost of recovery to collect on the bond, including attorney’s fees and costs. The attorney’s fees and costs incurred in a successful action for surcharge against a conservator or guardian for breach of his or her duty under this code shall be a surcharge against the conservator or guardian and, if unpaid, shall be recovered against the surety on the bond. The Judicial Council shall, on or before January 1, 2008, adopt a rule of court to implement this paragraph. (

d) If the bond is given by personal sureties, the amount of the bond shall be twice the amount required for a bond given by an admitted surety insurer. (

e) The Bond and Undertaking Law (Chapter 2 (commencing with

Section 995.010) of Title of Part of the Code of Civil Procedure) applies to a bond given under this article, except to the extent inconsistent with this article.