(1) The court may require a conservator to furnish a bond conditioned upon faithful discharge of all duties of the trust according to law with sureties that it specifies.
(2) Unless otherwise directed, the bond must be in the amount of the aggregate capital value of the property of the estate in the conservator's control plus 1 year's estimated income minus the value of securities deposited under arrangements requiring an order of the court for their removal and the value of any land that the fiduciary, by express limitation of power, lacks power to sell or convey without court authorization.
(3) The court, in lieu of sureties on a bond, may accept other security for the performance of the bond, including a pledge of securities or a mortgage of land.