NY Banking L § 100-A (2021)
2021 New York Laws BNK - Banking Article 3 - Banks and Trust Companies 100-A - Fiduciary Capacities; Appointment by Court Authorized; Bond; Oath; Accounting.

§ 100-a. Fiduciary  capacities; appointment by court authorized; bond; oath; accounting. 1. Executor.  When  any  trust  company  is  appointed executor in any last will and testament, the court or officer authorized to  grant  letters  testamentary  in  this state, shall, upon the proper application, grant letters testamentary thereon to such trust company or to its successors by merger.   2. Guardian, trustee or administrator.  (a)  Any  trust  company  may  be  appointed  guardian,   trustee   or administrator,  on  the  application  or consent of any person acting as such or as an executor or entitled to such appointment  irrespective  of whether  such person would himself be disqualified from acting by reason of his being an alien or non-resident of this state, and  in  the  place and  stead  of such person, or such trust company may be joined with any person so acting or entitled to such appointment; but such  appointments shall  be  made  upon such notice, as is required by law, to the persons interested in the estate or fund and on  the  consent  of  such  of  the principal  legatees or other persons interested in the estate or fund as the court, surrogate or judge making the appointment shall deem  proper. No appointment so made shall be deemed to increase the number of persons entitled  to  full  compensation beyond the number so entitled under the terms of the will or deed creating the trust or appointing a guardian or authorized by law. Whenever a person is joined with such  trust  company in   any   appointment   as  guardian,  trustee  or  administrator,  his appointment may be under such limitation of powers and upon  such  terms and  conditions  as to deposit of assets by such person, with such trust company, or otherwise, and upon such reduced  bond  or  security  to  be given  by  such  person,  as  the  court, surrogate or judge, making the appointment shall prescribe.  (b) When application is made to any court or officer having  authority to grant letters of administration with the will annexed upon the estate of  any deceased person, and there is no person entitled to such letters who  is  qualified,  competent,  willing  and  able   to   accept   such administration,  such  court  or officer may at the request of any party interested in the estate, grant such letters of administration with  the will annexed, to any trust company.  (c)  Any  court  or  officer  having  authority  to  grant  letters of guardianship of any infant may upon the same application as is  required by  law  for  the appointment of a guardian for such infant, appoint any trust company as the guardian of the estate of such infant.   3. Committee of incompetent or conservator of a conservatee. Any court having jurisdiction to appoint a trustee, guardian, receiver,  committee of  the  estate  of a person with a mental disability, or conservator of the estate of a conservatee, or to make any fiduciary  appointment,  may appoint  any  trust  company  to  be  such  trustee, guardian, receiver, committee or conservator, or to act in any other fiduciary capacity.   4. Receiver, trustee or committee. Any court, having  jurisdiction  to appoint a committee or trustee or a receiver in insolvency or bankruptcy proceedings  or  in  any  other  proceeding,  or  action, under state or federal law, may appoint any trust company to be such receiver,  trustee or committee.   5.  Bonds.  No bond or other security, except as hereinafter provided, shall be required from any trust company for or in respect to any trust, nor when appointed executor, administrator, guardian, trustee, receiver, committee or depositary or in any  other  fiduciary  capacity  nor  when receiving  commissions  under  the  provisions of SCPA 2310 or 2311. The court, or officer making such appointment may, upon proper  application, require  any  trust  company, which shall have been so appointed to give such security as to the court or officer  shall  seem  proper,  or  upon  failure  of  such trust company to give security as required, may remove such trust company from and revoke such appointment.   6.  Court  orders,  accounts.  Such  court  or officer may make orders respecting such trusts and require any such trust company to render  all accounts,  which  such  court  or officer might lawfully require if such executor,  administrator,  guardian,   trustee,   receiver,   committee, depositary or such trust company acting in any other fiduciary capacity, were a natural person.   7.  No  official  oath  required.  Upon  the appointment of such trust company as such executor, administrator, guardian, trustee, receiver  or committee, no official oath shall be required.