New York § 803 Deposit of assets to reduce bond 1

New York Statutes

§ 803 — Deposit of assets to reduce bond 1

New York § 803

Law SCPSurrogate's Court Procedure

Art. 8General Provisions Relating to Bonds

This text of New York § 803 (Deposit of assets to reduce bond 1) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Surrogate's Court Procedure § 803 (2026).

Text

§ 803. Deposit of assets to reduce bond\n  1. Whenever a bond or new surety may be required, if the value of the\nestate is so great or for other sufficient reasons the court deems it\ninexpedient to require security in the full amount prescribed by law it\nmay direct that all or part of the assets of the estate be delivered\nsubject to further order of the court to the county treasurer or other\nproper fiscal officer, the clerk of the court or a trust company, bank\nor safe deposit company or otherwise restrict the authority of the\nfiduciary. The court may thereupon fix the amount of the bond taking\ninto consideration the value of the remainder only of the estate.\n  2. The assets so deposited shall not be withdrawn from the custody of\nthe depositary and no person other than the proper

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§ 803. Deposit of assets to reduce bond\n 1. Whenever a bond or new surety may be required, if the value of the\nestate is so great or for other sufficient reasons the court deems it\ninexpedient to require security in the full amount prescribed by law it\nmay direct that all or part of the assets of the estate be delivered\nsubject to further order of the court to the county treasurer or other\nproper fiscal officer, the clerk of the court or a trust company, bank\nor safe deposit company or otherwise restrict the authority of the\nfiduciary. The court may thereupon fix the amount of the bond taking\ninto consideration the value of the remainder only of the estate.\n 2. The assets so deposited shall not be withdrawn from the custody of\nthe depositary and no person other than the proper fiscal officer of\nsuch county, city or depositary shall receive or collect any principal\nor income or other benefits derived from such assets without order of\nthe court.\n