2006 New York Code - Security.



 
    §  1744.  Security.  1.  Before the guardian, committee or conservator
  executes and delivers the deed, mortgage, release or lease  pursuant  to
  the  judgment  or  receives any portion of the proceeds arising from the
  transaction, he shall give security for the faithful performance of  his
  trust,  for  the  paying  over  and  investing of and accounting for all
  moneys received by the guardian, committee or conservator in the special
  proceeding and for the observance of  the  provisions  of  law  and  the
  directions  of  the  court in relation to the trust. Such security shall
  have the same force and effect as  if  it  had  been  filed  before  the
  guardian,  committee  or  conservator  acted  on  behalf  of the infant,
  incompetent person or conservatee and the application to the  court  was
  made in the proceeding.
    2. The court may, by order, dispense wholly or in part with the giving
  of  security  if  the  sureties  on the undertaking, if any, theretofore
  filed by the general or testamentary guardian of  the  property  of  the
  infant,  the  committee  of  the  property of the incompetent person, or
  conservator of the property of the conservatee as well as such guardian,
  committee, or conservator consent to its extension to cover the  special
  proceeding,  and the court deems such extended undertaking sufficient to
  protect the interests of the infant, incompetent person  or  conservatee
  in  such  proceeding. The consent shall be in writing and shall be filed
  with the order dispensing with the giving of security.

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