N.Y. Surrogate's Court Procedure Act § 803: Deposit of assets to reduce bond 1

§ 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 The assets so deposited shall not be withdrawn from the custody of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.