SCPA 803 · Article 8. General Provisions Relating to Bonds
Deposit of assets to reduce bond
Text — Law content up to date as of September 18, 2026, as published by the New York State Senate (Open Legislation)
§ 803. Deposit of assets to reduce bond
1. Whenever a bond or new surety may be required, if the value of the estate is so great or for other sufficient reasons 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 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 fiduciary. The court may thereupon fix the amount of the bond taking into consideration the value of the remainder only of the estate.
2. The assets so deposited shall not be withdrawn from the custody of the depositary and no person other than the proper fiscal officer of such county, city or depositary shall receive or collect any principal or income or other benefits derived from such assets without order of the court.
Source of truth
- Edition
- Law content up to date as of September 18, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/SCP803
- Text hash
- sha256 e9d9305b0848df0a1cdc4c2fc987dd6e3f528505e05b748a69390827b9593de5
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.