NY Ment Hygiene L § 81.25 (2021)
2021 New York Laws MHY - Mental Hygiene Title E - General Provisions Article 81 - Proceedings for Appointment of a Guardian for Personal Needs or Property Management 81.25 - Filing of Bond by Guardian.

§ 81.25 Filing of bond by guardian.  (a)  Before  the  guardian,  or  special guardian appointed under this article, or a trustee of a  trust  created  pursuant  to  this  article, enters upon the execution of his or her duties, the court may require or dispense with the filing of a bond.  (b) The court may require or dispense with the filing of a bond by the temporary  guardian.  If  the  temporary  guardian is required to file a bond, such bond must be filed within ten days after the issuance of  the temporary guardian's commission.  (c)  If  the  value  of  the estate of the person for whom a guardian, special guardian, temporary guardian, or  trustee  is  appointed  is  so great  or  for other sufficient reason the court deems it inexpedient to require security in the full amount prescribed by law it may direct that all or part of the assets of the estate  be  delivered  subject  to  the further  order  of  the  court  to the county treasurer, or other proper fiscal officer, the clerk of the court or a trust company, bank or  safe deposit  company  or otherwise restrict the authority of the guardian or trustee. The court may thereupon fix the amount of the bond taking  into consideration  the value of the remainder only of the estate. The assets so deposited shall not be withdrawn from the custody of  the  depositary and  no  person  other  than the proper fiscal officer of such county or depository shall receive or collect any principal  or  income  or  other benefits derived from such assets without order of the court.  (d) Notwithstanding any other provision of this section, any community guardian  program operating pursuant to the provisions of title three of article nine-B  of  the  social  services  law,  appointed  as  guardian pursuant  to  subdivision (a) of section 81.19 of this article, may file with the clerk of the court before the thirty-first day  of  January  of each  year,  a  consolidated undertaking up to the amount of one million five hundred thousand dollars, in lieu of filing individual undertakings for each incapacitated  person  for  whom  it  serves  as  guardian,  as required  by  subdivision  (a)  of  this  section.  To the extent of the aggregate value of such consolidated undertaking, the community guardian program will certify to the clerk of the court faithful discharge of the trust imposed upon it, obey all directions of the court in regard to the trust, and make and render a true account of all properties received  by it  and the application thereof and of its acts in the administration of its trust whenever so required to do by the court. At such time  as  the aggregate amount of the individual bonds, fixed by the court pursuant to subdivision  (a)  of  this  section  for  persons for whom the community guardian program is appointed guardian, shall  exceed  the  consolidated bond  filed  by such program, the program shall before entering upon the execution of its duties, file with the clerk  of  the  court  individual undertakings, in the amounts fixed by the court, that it will faithfully discharge the trust imposed upon it.  (e)  If  the  court  requires  the  filing  of a bond, the guardian or special or temporary guardian, or trustee, appointed under this  article shall  file  with  the  clerk  of  the  court by which such guardian was appointed a bond that he or she will  faithfully  discharge  the  powers granted  by  the court to the guardian or special or temporary guardian, or trustee, obey all directions of the court in regard  to  the  powers, and  make and render a true account of all properties received by him or her and the application thereof and a true report of his or her acts  in the  administration  of his or her powers, whenever so required to do by the court. The amount of the bond shall be fixed by the  court.  If  the guardian,   special   or   temporary   guardian,  or  trustee,  receives after-acquired property not covered by the bond, such guardian,  special  or   temporary   guardian,  or  trustee,  shall  immediately  have  such acquisition approved by the court and file a further bond.