2006 New York Code - Liability Of Surety For Assets Received By Principal In Another Fiduciary Capacity

 
  § 808. Liability  of  surety for assets received by principal in another
           fiduciary capacity
    1. A fiduciary is liable for money or other personal property  of  the
  estate which was in his hands or under his control when his letters were
  issued  or  when  he  began  to  serve  as  lifetime trustee in whatever
  capacity it was received by him or came under his control.
    2.  Where the money or property was received by him or came under  his
  control  by  virtue  of letters previously issued to him or his previous
  appointment as lifetime trustee in  the  same  or  another  capacity  an
  action  to  recover  the  money  or  damages  for failure to deliver the
  property may be maintained upon both bonds, but as between the  sureties
  upon  the  bond  given  upon  the issue of the prior letters or upon his
  prior appointment and those upon the bond given upon the  issue  of  the
  subsequent  letters  or  upon  his subsequent appointment the latter are
  liable over to the former.