Statute · New York Surrogate's Court Procedure
N.Y. Surr. Ct. Proc. Act § 722 — Deposit of securities may be ordered on revocation of letters or removal When upon the revocation of letters or removal of a fiduciary a ...
N.Y. Surr. Ct. Proc. Act § 722
- Type
- Statute
- Source
- New York Surrogate's Court Procedure
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 722. Deposit of securities may be ordered on revocation of letters or
Citator
N.Y. Surr. Ct. Proc. Act § 722 — Deposit of securities may be ordered on revocation of letters or removal When upon the revocation of letters or removal of a fiduciary a ... is in force in the current edition of the Code, and nothing recorded condemns it.
§ 722. Deposit of securities may be ordered on revocation of letters or
removal
When upon the revocation of letters or removal of a fiduciary a decree is made in which such fiduciary is personally charged with or directed to pay a sum of money upon a finding that he has made an unlawful investment or disposition of the estate in his hands and the security or other instrument by which such investment or disposition is evidenced or the property in the purchase of which such investment or disposition has been made shall not be a part of the assets which his successor may be required legally to receive, the decree may direct that such security or other instrument or such property, if practicably capable of delivery under such direction, be forthwith deposited with a safe deposit company in such manner as to prevent the withdrawal of the property except upon the order of the court.