authority as executors or administrators pursuant to the letters, until the letters are revoked as prescribed by law; and they are entitled to demand and recover from any person, to whom letters upon the same estate are afterwards issued by any other surrogate's court, the decedent's property in his hands. But the acts of a person to whom letters were afterwards issued, done in good faith before notice of the letters first issued, are valid, and an action or special proceeding commenced by him, may be continued by and in the name of the person or persons to whom the letters were first issued. [Code, § 2592, with change.] 333. Time, how reckoned on successive letters.-Where it is prescribed by law that an act with respect to the estate of a decedent must or may be done within a specified time after letters testamentary or letters of administration are issued, and successive or supplementary letters are issued upon the same estate, the time so specified must be reckoned from the issuing of the first letters, except in a case where it is otherwise specially prescribed by law or where the first or any subsequent letters are revoked, as prescribed in section 284, or by reason of the want of power in the surrogate's court to issue the same for any cause. [Code, § 2593, without change.] § 334. Deposit of securities to reduce penalty of bond.—In a case where a bond or new sureties to a bond may be required by a surrogate from an executor, administrator, guardian, or other trustee, if the value of the estate or fund is so great that the surrogate deems it inexpedient to require security in the full amount prescribed by law, he may direct that any securities for the payment of money belonging to the estate or fund, be deposited with him to be delivered to the county treasurer, or be deposited subject to the order of the trustee countersigned by the surrogate with a trust company duly authorized by law to receive the same. After such a deposit has been made, the sur rogate may fix the amount of the bond with respect to the value of the remainder only of the estate or fund. [Code, § 2595, first two sentences, without change.] § 335. When security may be withdrawn. A security deposited under the last section shall not be withdrawn from the custody of the county treasurer or trust company, and no person other than the county treasurer or the proper officer of the trust company shall receive or collect any of the principal or interest secured thereby, without the special order of the surrogate entered in the appropriate book. Such an order can be made in favor of the trustee appointed, only where an additional bond has been given by him, or on proof that the estate or fund has been so reduced by payments or otherwise, that the penalty of the bond originally given will be sufficient in amount to satisfy the provisions of law relating to the penalty thereof if the security so withdrawn is also reckoned in the estate or fund. [Code, § 2595, last two sentences without change.] § 336. Person to whom letters issued liable for property received in another capacity.-A person to whom letters are issued is liable for personal property of the estate which was in his hands or under his control when his letters were issued, in whatever capacity it was received by him or came under his control. [Code, § 2596, first sentence without change, except that the reference to money is omitted because included in the definition of personal property under the Statutory Construction Law, § 4.] § 337. Liability of sureties for property received under former letters.-Where personal property was received by a person to whom letters are issued, or came under his control by virtue of letters previously issued to him in the same or another capacity, an action to recover the money or damages for failure to deliver the property, may be maintained on both official bonds, but as between the sureties on the official bond given on the prior letters, and those on the official bond given on the subsequent letters, the latter are liable over to the former. [Code, § 2596, last sentence, without change.] § 338. When new bond or new sureties may be required.-Any person interested in the estate or fund may present to the surrogate's court a petition setting forth that a surety in a bond, taken as prescribed in this code, is insufficient or has removed or is about to remove from the state or that the bond is inadequate in amount, and praying that the principal in the bond may be required to give a new bond in a larger penalty or new or additional sureties as the case requires, or, in default thereof, that he may be removed from his office and that letters issued to him may be revoked. Where the bond so taken is that of a guardian, the petition may also be presented by any relative of the minor. When the bond is that of an executor or administrator, the petition may also be presented by any creditor of the decedent. If it appears to the surrogate that there is reason to believe that the allegations of the petition are true, he must cite the principal in the bond to show cause why the prayer of the petition should not be granted. [Code, § 2597, without change, except the omission of the words "written" and "duly verified." Section S1 of the revision requires all petitions to be in writing and verified.] § 339. When principal may be required to give a new bond.— Upon the return of a citation, issued as prescribed in the last section, the surrogate must hear the allegations and proofs of the parties, and if any of the objections are found to be valid, he must make an order requiring the principal in the bond to give new or additional sureties, or a new bond in a larger penalty, as the case requires, within such a reasonable time fixed by him, not exceeding five days, and directing that in default thereof his letters be revoked. [Code, § 2598, without change.] § 340. Decree revoking letters for failure to give new bond.— If a bond with new or additional sureties or in a larger penalty is approved and filed in the surrogate's office as required by such an order, the surrogate must make a decree dismissing the proceedings upon such terms as to costs as justice requires; otherwise he must make a decree removing the delinquent from office and revoking the letters issued to him. [Code, § 2599, without change.] § 341. Sureties may apply to be released as to future breaches.Any or all of the sureties in a bond, taken as prescribed in this code, may present a petition to the surrogate's court praying to be released from responsibility on account of any future breach of the condition of the bond, and that the principal in the bond may be cited to show cause why he should not give new sureties. The surrogate must thereupon issue a citation accordingly. [Code, § 2600, without change.] § 342. Release of old sureties on the giving of new.-Upon the return of a citation, issued as prescribed in the last section, if the principal in the bond files in the surrogate's office a bond in the usual form with new sureties to the satisfaction of the surrogate, the surrogate must then or within a reasonable time fixed by him, not exceeding five days, make a decree releasing the petitioner from liability upon the bond for any subsequent act or default of the principal, otherwise he must make a decree revoking the delinquent's letters. [Code, § 2601, without change. § 343. Effect of decree revoking letters.-On the entry of a decree revoking letters issued by a surrogate's court to an executor, administrator or guardian, his powers cease. The decree may, in the discretion of the surrogate, require him to account for all money and other property received by him, and to pay and deliver over all moneys and other property in his hands into the surrogate's court or to his successor in office, or to any other person authorized by law to receive the same; or it may be made without prejudice to an action or proceeding for that purpose then pending or thereafter to be brought. [Code, § 2603, first sentence, without change.] § 344. When revocation does not affect prior acts.-The revocation of letters does not affect the validity of any act, within the powers conferred by law upon the executor, administrator or guardian, done by him before the service of the citation, where the other party acted in good faith, or done after the service of the citation and before entry of the decree, where his powers with respect thereto were not suspended by service of the citation, or where the surrogate, in a case prescribed by law, permitted him to do the same notwithstanding the pendency of the proceeding against him, and he is not liable for such an act done by him in good faith. [Code, § 2603, last sentence, without change.] § 345. The last section qualified.-The revocation of letters does. not affect the liability of a person to whom money or other property has been paid or delivered, as husband, wife, next of kin, or legatee, to respond to the person lawfully entitled thereto, where letters are revoked, because a supposed decedent is living, or be cause a will is discovered after administration has been granted in a case of supposed intestacy, or revoking a prior will upon which letters were granted. [Code, § 2604, without change.] § 346. Successor may be appointed, and may compel accounting. Where letters have been revoked by a decree of the surrogate's court, that court has, except in a case where it is otherwise specially prescribed by law, the same power to appoint a successor to the person whose powers have ceased as if the letters had not been issued. The successor may complete the execution of the trust committed to his predecessor, continue, in his own name, . |