(1) Except as hereinafter provided, it shall be unlawful for any person to accept appointment as guardian or conservator of any minor or mentally disabled beneficiary of the Veterans Affairs if such proposed guardian or conservator shall at that time be acting as guardian or conservator for five (5) wards. In any case, upon presentation of a petition by an attorney of the Veterans Affairs under this section alleging that a guardian or conservator is acting in a fiduciary capacity for more than five (5) wards and requesting his discharge for that reason, the court, upon proof substantiating the petition, shall require a final accounting forthwith from such guardian or conservator and shall discharge such guardian or conservator in said case.
(2) The limitations of this section shall not apply where the guardian or conservator is a bank or trust company. An individual may be guardian or conservator of more than five (5) wards if they are all members of the same family. Effective:June 29, 2017