N.Y. SCP Law § 808

§ 808. Liability of surety for assets received by principal in another\n fiduciary capacity\n 1. A fiduciary is liable for money or other personal property of the\nestate which was in his hands or under his control when his letters were\nissued or when he began to serve as lifetime trustee in whatever\ncapacity it was received by him or came under his control.\n 2. Where the money or property was received by him or came under his\ncontrol by virtue of letters previously issued to him or his previous\nappointment as lifetime trustee in the same or another capacity an\naction to recover the money or damages for failure to deliver the\nproperty may be maintained upon both bonds, but as between the sureties\nupon the bond given upon the issue of the prior letters or upon his\nprior appointment and those upon the bond given upon the issue of the\nsubsequent letters or upon his subsequent appointment the latter are\nliable over to the former.\n