N.Y. SCP Law § 805

§ 805. Bond of administrator, temporary administrator or administrator\n c.t.a.\n 1. Before letters are issued to an administrator, temporary\nadministrator or administrator c.t.a. he shall execute and file a bond\nprovided, however, that where the person or persons about to be\nappointed is or are entitled to the whole estate or where acknowledged\nconsents that a bond be dispensed with or fixed at a reduced amount are\nexecuted and filed by all persons interested in the estate the court may\ndispense with a bond or fix the amount at such sum as will adequately\nprotect the right of all creditors. If such consent be filed by some but\nnot all of the persons interested in the estate, such consent must also\nspecifically release any claim under the bond required and the court may\nfix the amount at such sum as will adequately protect the rights of all\ncreditors and of the non-consenting persons interested.\n 2. The court may require that the amount of creditors' claims be\nascertained by a notice to creditors which shall be published once a\nweek for 4 consecutive weeks in such newspapers as the court may select\nand which shall direct the creditors to file their claims in writing\nwith the clerk of court on or before a day fixed therein, which shall be\nat least 30 days after the day of first publication.\n 3. Before an administrator shall receive the proceeds of a disposition\nof real property pursuant to the provisions of EPTL 11-1.1 he shall file\na further bond in the amount of the proceeds unless it be dispensed with\nas above provided or unless his existing bond is sufficient to cover the\nproceeds.\n