(a) Guardians who are required to give bond as such and who have given as security on such bonds one or more guaranty companies, surety companies, fidelity insurance companies, or fidelity and deposit companies, as authorized by law, may include as part of their lawful expense or cost of administration the cost of the bond premium or premiums.

(b) The judge of the probate court may order a guardian who is required to give bond to post such bond for a period in excess of one year, as may be appropriate in the circumstances. A surety on a bond posted pursuant to this subsection shall not be relieved of liability merely because of the expiration of the term of the bond but shall be subject to the provisions of law for the discharge of a surety applicable to other bonds.