New York Laws
Article 17 - Special Proceeding for Disposition of Real Property of Infant, Incompetent or Conservatee
1744 - Security.

§ 1744. Security. 1. Before the guardian, committee or conservator
executes and delivers the deed, mortgage, release or lease pursuant to
the judgment or receives any portion of the proceeds arising from the
transaction, he shall give security for the faithful performance of his
trust, for the paying over and investing of and accounting for all
moneys received by the guardian, committee or conservator in the special
proceeding and for the observance of the provisions of law and the
directions of the court in relation to the trust. Such security shall
have the same force and effect as if it had been filed before the
guardian, committee or conservator acted on behalf of the infant,
incompetent person or conservatee and the application to the court was
made in the proceeding.

2. The court may, by order, dispense wholly or in part with the giving
of security if the sureties on the undertaking, if any, theretofore
filed by the general or testamentary guardian of the property of the
infant, the committee of the property of the incompetent person, or
conservator of the property of the conservatee as well as such guardian,
committee, or conservator consent to its extension to cover the special
proceeding, and the court deems such extended undertaking sufficient to
protect the interests of the infant, incompetent person or conservatee
in such proceeding. The consent shall be in writing and shall be filed
with the order dispensing with the giving of security.