{"jurisdiction": "us-ny", "code": "scpa", "section": "722", "citation": "SCPA § 722", "heading": "Deposit of securities may be ordered on revocation of letters or removal When upon the revocation of letters or removal of a fiduciary a ...", "text": ["§ 722. Deposit of securities may be ordered on revocation of letters or", "removal", "When upon the revocation of letters or removal of a fiduciary a decree is made in which such fiduciary is personally charged with or directed to pay a sum of money upon a finding that he has made an unlawful investment or disposition of the estate in his hands and the security or other instrument by which such investment or disposition is evidenced or the property in the purchase of which such investment or disposition has been made shall not be a part of the assets which his successor may be required legally to receive, the decree may direct that such security or other instrument or such property, if practicably capable of delivery under such direction, be forthwith deposited with a safe deposit company in such manner as to prevent the withdrawal of the property except upon the order of the court."], "official_source": "https://www.nysenate.gov/legislation/laws/SCP/722", "from_official_api": true, "plain_english": "When revoking letters or removing a fiduciary, if the decree personally charges the fiduciary for an unlawful estate investment or disposition and the related instrument or property need not be accepted by the successor, the court may **order that item immediately deposited with a safe-deposit company so it cannot be withdrawn without a court order**. ★", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/scpa/722", "publisher": "Elyphived LLC"}