§ 2501. Undertaking; definition. Undertaking includes 1. Any obligation, whether or not the principal is a party thereto, which contains a covenant by a surety to pay the required amount, as specified therein, if any required condition, as specified therein or as provided in subdivision (c) section 2502, is not fulfilled; and 2. any deposit, […]
§ 2502. Surety; form of affidavit; two or more undertakings; condition; acknowledgment. (a) Surety; form of affidavit. Unless the court orders otherwise, surety shall be: 1. an insurance company authorized to execute the undertaking within the state, or 2. a natural person, except an attorney, who shall execute with the undertaking his affidavit setting forth […]
§ 2503. Undertaking of more than one thousand dollars; real property; lien. (a) Creation of lien. Unless the court orders otherwise, an undertaking in an amount of more than one thousand dollars, which is not a deposit of legal tender of the United States or in face value of unregistered bonds of the United States […]
§ 2504. Waiver of undertaking; removal and change of parties. (a) Waiver of undertaking. Unless the court orders otherwise, an undertaking may be waived by the written consent of all parties. (b) Removal and change of parties. The liability on an undertaking shall remain in effect in favor of the party for whose benefit it […]
§ 2505. Filing of undertaking; service upon adverse party; time when effective. An undertaking together with any affidavit required by this article shall be filed with the clerk of the court in which the action is triable, or, upon an appeal, in the office where the judgment or order of the court of original instance […]
§ 2506. Exception to surety; allowance where no exception taken. (a) Exception to surety. If a certificate of qualification issued pursuant to subsections (b), (c) and (d) of section one thousand one hundred eleven of the insurance law is not filed with the undertaking, a party may except to the sufficiency of a surety by […]
§ 2507. Justification of surety. (a) Motion to justify. Within ten days after service of notice of exception, the surety excepted to or the person upon whose behalf the undertaking was given shall move to justify, upon notice to the adverse party and to the sheriff if he was served with the undertaking. The surety […]
§ 2508. Motion for new or additional undertaking. Upon motion of any interested person, upon notice to the parties and surety, and to the sheriff, where he was required to be served with the undertaking, the court may order a new or additional undertaking, a justification or rejustification of sureties, or new or additional sureties. […]
§ 2509. Control of assets by agreement with surety. Any person of whom an undertaking is required may agree with his surety for the deposit of any assets for which his surety may be held responsible with a bank, or safe deposit or trust company, authorized to do business in the state, if such deposit […]
§ 2510. Discharge of surety on the undertaking of a fiduciary. (a) Motion; new undertaking; accounting. Surety on the undertaking of any fiduciary may move with notice to the person upon whose behalf the undertaking was given, to be discharged from liability for any act or omission of such fiduciary subsequent to the order of […]
§ 2511. Liability of surety. Where two or more persons are surety on an undertaking in an action or proceeding, they shall be jointly and severally liable. The amount recoverable from a surety shall be determined in accordance with the provisions of section 7-301 of the general obligations law.
§ 2512. Undertaking by the state, municipal corporation or public officer. 1. Any provision of law authorizing or requiring an undertaking to be given by a party shall be construed as excluding the state, a domestic municipal corporation or a public officer in behalf of the state or of such a corporation. Such parties shall, […]
§ 2513. Action on undertaking to a public officer, board or municipal corporation. A person for whose benefit an undertaking has been given to a public officer, board or municipal corporation of the state may move, on notice to persons interested in the disposition of the proceeds, for leave to bring an action in his […]
