N.Y. Real Property Actions & Proceedings Law § 1805: Security

§ 1805. Security. On presentation of the petition, where the value of

the claim exceeds one thousand dollars, the court shall fix the amount

of security or additional security, if any, to be given by such general

or testamentary guardian, committee or conservator, for the faithful

performance of his trust, to cover the amount of compensation to be

received by the infant, incompetent or conservatee because of such

appropriation. The court shall dispense with the giving of security, on

facts submitted in the petition, in any case where the surrogate had

done likewise as to such guardian under the provisions of the

surrogate's court procedure act with respect to the property so

appropriated.