(a) The court, on the request of the U.S. Department of Veterans Affairs, shall require a guardian, other than a corporate guardian, to furnish a bond, preferably a corporate surety bond with sureties approved by the court, conditioned on faithful discharge of all duties of the guardianship according to law, if:

(1) The U.S. Department of Veterans Affairs is paying or planning to pay benefits to a person to be protected because of a legal disability; or

(2) A person to be protected because of a legal disability has an estate that includes assets derived in whole or in part from benefits paid by the U.S. Department of Veterans Affairs to the guardian or the guardian’s predecessor for the benefit of the person.

(b) (1) The amount of the bond may not be less than the estate derived from U.S. Department of Veterans Affairs benefits paid to the guardian or the guardian’s predecessor and anticipated income of the beneficiary from the U.S. Department of Veterans Affairs during the ensuing year, less the value of securities or money deposited with an insured financial institution, as defined in § 13-301(h) of this title, under arrangements requiring an order of the court for their removal, and the value of any land which the guardian, by express limitation of power, lacks powers to sell or convey without court authorization.

(2) The court for good cause shown may require the amount of the bond to be changed.

(3) Bond premiums shall be charged against the estate of the beneficiary.