New York Consolidated Laws, Surrogate's Court Procedure Act - SCP § 1910. Bond of fiduciary

1. In any case where the court directs disposition of the property it may direct the fiduciary to furnish such bond as it may require to insure the execution of the order and the accounting by the fiduciary of all moneys received.

2. The court may require a bond notwithstanding that the will authorized an executor to serve without bond.

3. The court may dispense with a bond or require a bond in a reduced amount on condition that the proceeds of the disposition be deposited with a specified bank or trust company, subject to the further order of the court.