§ 17. Receiver's undertaking. Each receiver of taxes hereafter elected
or appointed, including the receivers continued in office or created by
this act, shall, before entering on the duties of his office, and
annually on or before the first day of December in each year and before
receiving the tax and assessment roll and warrant for the current year,
execute an undertaking with two or more sureties to be approved by the
supervisor of the town and to be filed in the office of the county clerk
before the delivery of the warrant to the receiver, to the effect that
he will well and faithfully execute his duties as receiver of taxes, pay
over all moneys received by him and account within the time provided by
law for all taxes upon the tax and assessment roll of his town for the
current year delivered to him including penalties and interest accruing
thereon and shall deliver such undertaking to the supervisor, and all
the provisions of section one hundred and fifteen of the town law are
hereby made applicable to the said undertaking. In default of giving and
filing of such undertaking within five days after December first in each
year the office of receiver of taxes shall be vacant.