Section 100-A. Fiduciary capacities; appointment by court authorized; bond; oath; accounting

1. Executor.  When  any  trust  company  is  appointed  executor in any last will and testament, the court or officer authorized
  to  grant  letters  testamentary  in  this state, shall, upon the proper
  application, grant letters testamentary thereon to such trust company or
  to its successors by merger.
    2. Guardian, trustee or administrator.
    (a)  Any  trust  company  may  be  appointed  guardian,   trustee   or
  administrator,  on  the  application  or consent of any person acting as
  such or as an executor or entitled to such appointment  irrespective  of
  whether  such person would himself be disqualified from acting by reason
  of his being an alien or non-resident of this state, and  in  the  place
  and  stead  of such person, or such trust company may be joined with any
  person so acting or entitled to such appointment; but such  appointments
  shall  be  made  upon such notice, as is required by law, to the persons
  interested in the estate or fund and on  the  consent  of  such  of  the
  principal  legatees or other persons interested in the estate or fund as
  the court, surrogate or judge making the appointment shall deem  proper.
  No appointment so made shall be deemed to increase the number of persons
  entitled  to  full  compensation beyond the number so entitled under the
  terms of the will or deed creating the trust or appointing a guardian or
  authorized by law. Whenever a person is joined with such  trust  company
  in   any   appointment   as  guardian,  trustee  or  administrator,  his
  appointment may be under such limitation of powers and upon  such  terms
  and  conditions  as to deposit of assets by such person, with such trust
  company, or otherwise, and upon such reduced  bond  or  security  to  be
  given  by  such  person,  as  the  court, surrogate or judge, making the
  appointment shall prescribe.
    (b) When application is made to any court or officer having  authority
  to grant letters of administration with the will annexed upon the estate
  of  any deceased person, and there is no person entitled to such letters
  who  is  qualified,  competent,  willing  and  able   to   accept   such
  administration,  such  court  or officer may at the request of any party
  interested in the estate, grant such letters of administration with  the
  will annexed, to any trust company.
    (c)  Any  court  or  officer  having  authority  to  grant  letters of
  guardianship of any infant may upon the same application as is  required
  by  law  for  the appointment of a guardian for such infant, appoint any
  trust company as the guardian of the estate of such infant.
    3. Committee of incompetent or conservator of a conservatee. Any court
  having jurisdiction to appoint a trustee, guardian, receiver,  committee
  of  the  estate  of  a  mentally ill person, mentally retarded person or
  alcohol abuser or conservator of the estate of a conservatee, or to make
  any fiduciary appointment, may appoint any  trust  company  to  be  such
  trustee,  guardian, receiver, committee or conservator, or to act in any
  other fiduciary capacity.
    4. Receiver, trustee or committee. Any court, having  jurisdiction  to
  appoint a committee or trustee or a receiver in insolvency or bankruptcy
  proceedings  or  in  any  other  proceeding,  or  action, under state or
  federal law, may appoint any trust company to be such receiver,  trustee
  or committee.
    5.  Bonds.  No bond or other security, except as hereinafter provided,
  shall be required from any trust company for or in respect to any trust,
  nor when appointed executor, administrator, guardian, trustee, receiver,
  committee or depositary or in any  other  fiduciary  capacity  nor  when
  receiving  commissions  under  the  provisions of SCPA 2310 or 2311. The
  court, or officer making such appointment may, upon proper  application,
  require  any  trust  company, which shall have been so appointed to give

  such security as to the court or officer  shall  seem  proper,  or  upon
  failure  of  such trust company to give security as required, may remove
  such trust company from and revoke such appointment.
    6.  Court  orders,  accounts.  Such  court  or officer may make orders
  respecting such trusts and require any such trust company to render  all
  accounts,  which  such  court  or officer might lawfully require if such
  executor,  administrator,  guardian,   trustee,   receiver,   committee,
  depositary or such trust company acting in any other fiduciary capacity,
  were a natural person.
    7.  No  official  oath  required.  Upon  the appointment of such trust
  company as such executor, administrator, guardian, trustee, receiver  or
  committee, no official oath shall be required.