There is a newer version of the New York Consolidated Laws
2006 New York Code - Bond Required When Assets Deposited With Bank Or Trust Company Serving As Co-fiduciary
§ 804. Bond required when assets deposited with bank or trust company serving as co-fiduciary When a bank or trust company is a fiduciary and is nominated to serve or is serving with one or more individual fiduciaries the court may make an order directing the deposit of assets with the bank or trust company upon such terms and upon the giving of such bond by the individual fiduciaries as it deems advisable.
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