N.Y. RPA Law § 1744

§ 1744. Security. 1. Before the guardian, committee or conservator\nexecutes and delivers the deed, mortgage, release or lease pursuant to\nthe judgment or receives any portion of the proceeds arising from the\ntransaction, he shall give security for the faithful performance of his\ntrust, for the paying over and investing of and accounting for all\nmoneys received by the guardian, committee or conservator in the special\nproceeding and for the observance of the provisions of law and the\ndirections of the court in relation to the trust. Such security shall\nhave the same force and effect as if it had been filed before the\nguardian, committee or conservator acted on behalf of the infant,\nincompetent person or conservatee and the application to the court was\nmade in the proceeding.\n 2. The court may, by order, dispense wholly or in part with the giving\nof security if the sureties on the undertaking, if any, theretofore\nfiled by the general or testamentary guardian of the property of the\ninfant, the committee of the property of the incompetent person, or\nconservator of the property of the conservatee as well as such guardian,\ncommittee, or conservator consent to its extension to cover the special\nproceeding, and the court deems such extended undertaking sufficient to\nprotect the interests of the infant, incompetent person or conservatee\nin such proceeding. The consent shall be in writing and shall be filed\nwith the order dispensing with the giving of security.\n