N.Y. Surrogate's Court Procedure Act § 808: Liability of surety for assets received by principal in another fiduciary capacity 1

§ 808. Liability of surety for assets received by principal in another

fiduciary capacity

1. A fiduciary is liable for money or other personal property of the

estate which was in his hands or under his control when his letters were

issued or when he began to serve as lifetime trustee in whatever

capacity it was received by him or came under his control.

2. Where the money or property was received by him or came under his

control by virtue of letters previously issued to him or his previous

appointment as lifetime trustee in the same or another capacity an

action to recover the money or damages for failure to deliver the

property may be maintained upon both bonds, but as between the sureties

upon the bond given upon the issue of the prior letters or upon his

prior appointment and those upon the bond given upon the issue of the

subsequent letters or upon his subsequent appointment the latter are

liable over to the former.