2006 New York Code - Bond Of Administrator, Temporary Administrator Or Administrator C. T. A.

 
  § 805. Bond  of  administrator, temporary administrator or administrator
           c. t. a.
    1.  Before  letters  are  issued  to   an   administrator,   temporary
  administrator or administrator c. t. a. he shall execute and file a bond
  provided,  however,  that  where  the  person  or  persons  about  to be
  appointed is or are entitled to the whole estate or  where  acknowledged
  consents  that a bond be dispensed with or fixed at a reduced amount are
  executed and filed by all persons interested in the estate the court may
  dispense with a bond or fix the amount at such sum  as  will  adequately
  protect the right of all creditors. If such consent be filed by some but
  not  all of the persons interested in the estate, such consent must also
  specifically release any claim under the bond required and the court may
  fix the amount at such sum as will adequately protect the rights of  all
  creditors and of the non-consenting persons interested.
    2.  The  court  may  require  that  the amount of creditors' claims be
  ascertained by a notice to creditors which shall  be  published  once  a
  week  for 4 consecutive weeks in such newspapers as the court may select
  and which shall direct the creditors to file  their  claims  in  writing
  with the clerk of court on or before a day fixed therein, which shall be
  at least 30 days after the day of first publication.
    3. Before an administrator shall receive the proceeds of a disposition
  of real property pursuant to the provisions of EPTL 11-1.1 he shall file
  a further bond in the amount of the proceeds unless it be dispensed with
  as above provided or unless his existing bond is sufficient to cover the
  proceeds.