N.Y. Real Property Actions & Proceedings Law § 1805

§ 1805. Security. On presentation of the petition, where the value of\nthe claim exceeds one thousand dollars, the court shall fix the amount\nof security or additional security, if any, to be given by such general\nor testamentary guardian, committee or conservator, for the faithful\nperformance of his trust, to cover the amount of compensation to be\nreceived by the infant, incompetent or conservatee because of such\nappropriation. The court shall dispense with the giving of security, on\nfacts submitted in the petition, in any case where the surrogate had\ndone likewise as to such guardian under the provisions of the\nsurrogate's court procedure act with respect to the property so\nappropriated.\n