Administration Bond

Administration Bond

A bond issued by the administrator of an estate. The administration bond provides security in case the administrator causes financial losses due to theft, fraud, or negligence. The administration bond is refunded to the administrator if he/she performs his/her duties in accordance with the law and the decedent's will.
References in periodicals archive ?
The bottom right chart takes a common callable instrument, the 30-year Government National Mortgage Administration bond, and subtracts, as an inflation estimate, the yield difference between a 10-year Treasury bond and 10-year TIIS.
Bank purchased four Maryland Community Development Administration bonds, which provided funds to finance the purchase of or refinance owner-occupied, single-family residences in Maryland by borrowers with limited income.
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