2020 New York Laws
CVP - Civil Practice Law and Rules
Article 25 - Undertakings
2510 - Discharge of Surety on the Undertaking of a Fiduciary.

§  2510.  Discharge  of  surety on the undertaking of a fiduciary. (a)
Motion; new undertaking; accounting. Surety on the  undertaking  of  any
fiduciary  may  move  with  notice  to  the person upon whose behalf the
undertaking was given, to be discharged from liability for  any  act  or
omission  of  such fiduciary subsequent to the order of the court or the
time when a new undertaking satisfactory to  the  court  is  filed.  The
court  may  restrain  such  fiduciary  from  acting  pending  the  order
discharging such surety from liability.  Upon  the  hearing,  the  court
shall  order  the  fiduciary  to  give a new undertaking and to account,
within such time as the court orders but not exceeding twenty days,  for
all his acts.  If a new undertaking is filed the fiduciary shall account
for  his  acts  up  to  and including the date of such filing. Where the
fiduciary does not comply with the order to account, the surety may make
and file such account with the  same  effect  as  though  filed  by  the
fiduciary,   and   may   utilize  any  disclosure  device  in  obtaining
information necessary for such an accounting. The court shall make  such
provisions  with  respect  to commissions, allowances, disbursements and
costs as it deems just.
  (b) Settlement of account. When  such  account  has  been  filed,  the
court, upon sufficient notice, shall order all persons interested in the
proceedings  to  attend  a settlement of the account at a time and place
specified, and  such  settlement  shall  be  made  and  the  rights  and
liabilities  of  all  parties  to the proceeding shall be determined and
enforced. After settlement of the account, the court shall make an order
relieving  the  surety  from  any  act  or  omission  of  the  fiduciary
subsequent  to the date of such order or the time when a new undertaking
satisfactory to the court was filed, whichever is earlier. Upon  written
demand  by  the fiduciary, the surety shall return any compensation paid
for the unexpired portion of such suretyship.