{"jurisdiction": "us-ny", "code": "scpa", "section": "803", "citation": "SCPA § 803", "heading": "Deposit of assets to reduce bond 1", "text": ["§ 803. Deposit of assets to reduce bond", "1. Whenever a bond or new surety may be required, if the value of the estate is so great or for other sufficient reasons the court deems it inexpedient to require security in the full amount prescribed by law it may direct that all or part of the assets of the estate be delivered subject to further order of the court to the county treasurer or other proper fiscal officer, the clerk of the court or a trust company, bank or safe deposit company or otherwise restrict the authority of the fiduciary. The court may thereupon fix the amount of the bond taking into consideration the value of the remainder only of the estate.", "2. The assets so deposited shall not be withdrawn from the custody of the depositary and no person other than the proper fiscal officer of such county, city or depositary shall receive or collect any principal or income or other benefits derived from such assets without order of the court."], "official_source": "https://www.nysenate.gov/legislation/laws/SCP/803", "from_official_api": true, "plain_english": "The court may have estate assets deposited and reduce the bond accordingly.\n- **(1)** Whenever a bond or new surety may be required and the estate is so large, or another sufficient reason makes full security inexpedient, the court may direct that **all or part of the assets** be delivered, subject to further order, to the **county treasurer or other fiscal officer, the court clerk, or a trust company, bank or safe deposit company**, or otherwise **restrict the fiduciary's authority**. It may then **fix the bond on the value of the remainder only**. ★\n- **(2)** Deposited assets **may not be withdrawn** from the depositary, and **no one other than the proper fiscal officer or depositary** may receive or collect principal, income, or other benefits from them **without a court order**. ★", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/scpa/803", "publisher": "Elyphived LLC"}