N.Y. DCD Law § 6

§ 6. Bond of assignee. The assignee named in any such assignment\nshall, within thirty days after the date thereof, and before he shall\nhave any power or authority to sell, dispose of or convert to the\npurposes of the trust any of the assigned property, enter into a bond to\nthe people of the state of New York, in an amount to be ordered and\ndirected by the judge, with sufficient sureties to be approved of by\nsuch judge, and conditioned for the faithful discharge of the duties of\nsuch assignee, and for the due accounting for all moneys received by\nhim, which bond shall be filed in the clerk's office of the county where\nsuch assignment is recorded, but in case the debtor shall fail to\npresent such inventory within the twenty days required, then the\nassignee, before ten days thereafter shall have elapsed, may apply to\nsaid judge by verified petition for leave to file a provisional bond,\nuntil such time as he may be able to present the schedule or inventory\nas hereinbefore provided.\n