2006 New York Code - Deposit Of Assets To Reduce Bond



 
  § 803. Deposit of assets to reduce bond
    1.  Whenever a bond or new surety may be required, if the value of the
  estate is so great or for other sufficient reasons the  court  deems  it
  inexpedient  to require security in the full amount prescribed by law it
  may direct that all or part of the assets of  the  estate  be  delivered
  subject  to  further order of the court to the county treasurer or other
  proper fiscal officer, the clerk of the court or a trust  company,  bank
  or  safe  deposit  company  or  otherwise  restrict the authority of the
  fiduciary. The court may thereupon fix the amount  of  the  bond  taking
  into consideration the value of the remainder only of the estate.
    2.  The assets so deposited shall not be withdrawn from the custody of
  the depositary and no person other than the  proper  fiscal  officer  of
  such  county,  city or depositary shall receive or collect any principal
  or income or other benefits derived from such assets  without  order  of
  the court.

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