(a)    (1)    Unless bond is expressly excused by the will or by the written waiver of all interested persons, a person appointed as a personal representative in accordance with § 5–603(a)(1) of this subtitle shall be required to give bond if the estate is established to have a gross value of $10,000 or more after the payment of expenses and allowances under § 5–603(a)(2) of this subtitle.

(2)    If the estate is established to have a gross value of less than $10,000 after the payment of expenses and allowances under § 5–603(a)(2) of this subtitle, a person appointed as a personal representative in accordance with § 5–603(a)(1) of this subtitle may not be required to give bond.

(3)    A personal representative under this subtitle is not entitled to receive commissions for the performance of the duties of a personal representative.

(b)    (1)    After the expiration of 60 days following publication of the notice required by § 5–603(b) of this subtitle, the personal representative shall file proof of publication of the notice and a list of all claims, including contingent and disputed claims, and the amount of each filed since the original petition.

(2)    The court shall hear objections filed pursuant to the notice and, if satisfied that all action taken pursuant to this subtitle is proper, shall direct the petitioner to pay all proper claims, expenses, and family allowance and to distribute the net estate in accordance with the will or, if the decedent died intestate, in accordance with Title 3, Subtitle 1 of this article.

(c)    The personal representative does not incur any personal liability by payment of claims or distribution of assets in accordance with this subtitle if, at the time of payment or distribution, the representative has no actual knowledge of a valid unbarred claim that has not been filed with the register.