N.Y. MHY Law § 79.15

§ 79.15 Bonds; sureties.\n Before making an appointment under the provisions of this article the\ncourt shall be satisfied that the guardian, whose appointment is sought,\nis a fit and proper person to be appointed. Upon the appointment being\nmade the guardian shall execute and file a bond to be approved by the\ncourt in an amount not less than the sum then due and estimated to\nbecome payable during the ensuing year, if he is to receive only the\nbenefits from the administration and income from such benefits. If the\nguardian is also to receive other property of the ward, the minimum\namount of the said bond shall be increased, in the case of an\nincompetent ward, by the amount of the bond required of a committee\nappointed under article seventy-eight of this chapter, and in the case\nof an infant ward, by the amount of the bond required of a guardian\nappointed under the surrogate's court procedure act; or else the\nguardian shall execute and file an additional bond in the amount\nrequired by the applicable statute. The said bond or bonds shall be in\nthe form and be conditioned as required of guardians appointed under\narticle seventy-eight of this chapter, in the case of an incompetent\nward, and under the surrogate's court procedure act, in the case of an\ninfant ward. The court shall have power from time to time to require the\nguardian to file an additional bond. The necessity of requiring a bank\nor trust company to give bond when acting as guardian shall be governed\nby subdivision five of section one hundred-a of the banking law.\n Where a bond is tendered by a guardian with personal sureties, such\nsureties shall file with the court a certificate under oath which shall\ndescribe the property owned, both real and personal, and that they are\neach worth the sum named in the bond as the penalty thereof over and\nabove all their debts and liabilities and exclusive of property exempt\nfrom execution.\n