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2015 New York Laws
CNT - County
Article 24 - (County) PROVISIONS APPLICABLE TO NEW YORK CITY
906 - Liability of city of New York for loss of court and trust funds.

NY Cty L § 906 (2015) What's This?
  906.  Liability  of  city  of  New York for loss of court and trust
  funds. The city of New York shall be responsible  for  all  property  or
  moneys  deposited  with  the  commissioner  of  finance by virtue of any
  judgment, decree or order of a court of record in this  state  provided,
  however,  that the city shall not be held liable for any loss due to the
  depreciated value of an investment legal at the time of its purchase and
  which continued to be a legal investment during the period of the trust.
  An action to recover any loss to or of such fund may be brought  against
  the  city  by any party aggrieved or by the state comptroller in a court
  of competent jurisdiction.

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