SCPA 722 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 721 Preceding section qualified The preceding section does not affect the liability of a person to whom money or other property has been deli... up ARTICLE 7 General Provisions Relating to Letters next SECTION 723 Copy of letters issued to chief fiscal officer of county to be transmitted to comptroller Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 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 ... Surrogate's Court Procedure Act (SCP) CHAPTER 59-A, ARTICLE 7 § 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.