N.Y. Mental Hygiene Law § 79.15: Bonds; sureties

§ 79.15 Bonds; sureties.

Before making an appointment under the provisions of this article the

court shall be satisfied that the guardian, whose appointment is sought,

is a fit and proper person to be appointed. Upon the appointment being

made the guardian shall execute and file a bond to be approved by the

court in an amount not less than the sum then due and estimated to

become payable during the ensuing year, if he is to receive only the

benefits from the administration and income from such benefits. If the

guardian is also to receive other property of the ward, the minimum

amount of the said bond shall be increased, in the case of an

incompetent ward, by the amount of the bond required of a committee

appointed under article seventy-eight of this chapter, and in the case

of an infant ward, by the amount of the bond required of a guardian

appointed under the surrogate's court procedure act; or else the

guardian shall execute and file an additional bond in the amount

required by the applicable statute. The said bond or bonds shall be in

the form and be conditioned as required of guardians appointed under

article seventy-eight of this chapter, in the case of an incompetent

ward, and under the surrogate's court procedure act, in the case of an

infant ward. The court shall have power from time to time to require the

guardian to file an additional bond. The necessity of requiring a bank

or trust company to give bond when acting as guardian shall be governed

by subdivision five of section one hundred-a of the banking law.

Where a bond is tendered by a guardian with personal sureties, such

sureties shall file with the court a certificate under oath which shall

describe the property owned, both real and personal, and that they are

each worth the sum named in the bond as the penalty thereof over and

above all their debts and liabilities and exclusive of property exempt

from execution.