2012 New York Consolidated Laws
CVP - Civil Practice Law & Rules
Article 25 - (2501 - 2513) UNDERTAKINGS
2510 - Discharge of surety on the undertaking of a fiduciary.

 
    §  2510.  Discharge  of  surety on the undertaking of a fiduciary. (a)
  Motion; new undertaking; accounting. Surety on the  undertaking  of  any
  fiduciary  may  move  with  notice  to  the person upon whose behalf the
  undertaking was given, to be discharged from liability for  any  act  or
  omission  of  such fiduciary subsequent to the order of the court or the
  time when a new undertaking satisfactory to  the  court  is  filed.  The
  court  may  restrain  such  fiduciary  from  acting  pending  the  order
  discharging such surety from liability.  Upon  the  hearing,  the  court
  shall  order  the  fiduciary  to  give a new undertaking and to account,
  within such time as the court orders but not exceeding twenty days,  for
  all his acts.  If a new undertaking is filed the fiduciary shall account
  for  his  acts  up  to  and including the date of such filing. Where the
  fiduciary does not comply with the order to account, the surety may make
  and file such account with the  same  effect  as  though  filed  by  the
  fiduciary,   and   may   utilize  any  disclosure  device  in  obtaining
  information necessary for such an accounting. The court shall make  such
  provisions  with  respect  to commissions, allowances, disbursements and
  costs as it deems just.
    (b) Settlement of account. When  such  account  has  been  filed,  the
  court, upon sufficient notice, shall order all persons interested in the
  proceedings  to  attend  a settlement of the account at a time and place
  specified, and  such  settlement  shall  be  made  and  the  rights  and
  liabilities  of  all  parties  to the proceeding shall be determined and
  enforced. After settlement of the account, the court shall make an order
  relieving  the  surety  from  any  act  or  omission  of  the  fiduciary
  subsequent  to the date of such order or the time when a new undertaking
  satisfactory to the court was filed, whichever is earlier. Upon  written
  demand  by  the fiduciary, the surety shall return any compensation paid
  for the unexpired portion of such suretyship.