SEC. 93-13-75. When guardianship to cease.
The powers and duties of every guardian of a minor over the person and estate of the ward shall cease and determine when the ward shall arrive at the age of twenty-one (21) years, or, in the discretion of the chancellor, may cease and determine when the ward shall arrive at the age of eighteen (18) years. And the powers and duties of every guardian of the estate of a minor, person of unsound mind, or convict of felony, may also cease and determine on the approval of the chancery court or of the chancellor in vacation, when the funds and personal property, either or both, of the ward do not exceed the sum or value of Two Thousand Dollars ($2,000.00) and there is no prospect of further receipts to come into the hands of the guardian; provided that the court or chancellor, on the approval of the final account of such guardian, shall have power to require the property of such minor or adult incompetent, to be delivered to him or to some person, or bank for him, under such conditions and restrictions as the court or chancellor may impose; and compliance by the guardian with such order shall acquit him and his sureties. Any person or bank who under such an order or decree shall receive the money or property of a person under such disability shall thereby become amenable to the court for the proper disposition of it for the use and benefit of such incompetent; but shall not be required to give security therefor unless the court or chancellor shall so order. In either event the guardian shall forthwith deliver to the ward, or to such person or bank as the court or chancellor may designate, as the case may be, all the property of every description of the ward in his hands, and on failure, shall be liable to an action on his bond.
SOURCES: Codes, Hutchinson's 1848, ch. 36, art. 1(135); 1857, ch. 60, art. 148; 1871, Sec. 1218; 1880, Sec. 2107; 1892, Sec. 2223; 1906, Sec. 2442; Hemingway's 1917, Sec. 2003; 1930, Sec. 1892; 1942, Sec. 428; Laws, 1936, ch. 235; 1938, Ex. ch. 54; 1958, ch. 284; 1962, ch. 274; 1978, ch. 366, Sec. 1; 1991, ch. 441, Sec. 2, eff from and after July 1, 1991.