A guardian who, after appointment:
1. Is convicted of a gross misdemeanor or felony in any state;
2. Files for or receives protection as an individual or as a principal of any entity under the federal bankruptcy laws;
3. Has a driver’s license suspended, revoked or cancelled for nonpayment of child support;
4. Is suspended for misconduct or disbarred from:
(a) The practice of law;
(b) The practice of accounting; or
(c) Any other profession which:
(1) Involves or may involve the management or sale of money, investments, securities or real property; or
(2) Requires licensure in this State or any other state; or
5. Has a judgment entered against him or her for misappropriation of funds or assets from any person or entity in any state,
Ê shall immediately inform the court of the circumstances of those events. The court may remove the guardian and appoint a successor guardian, unless the court finds that it is in the best interest of the protected person to allow the guardian to continue in his or her appointment.