Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
(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 his full name and address and that he is domiciled within the state and worth at least the amount specified in the undertaking exclusive of liabilities and of property exempt from application to the satisfaction of a judgment.
(b) Two or more undertakings. Where two or more undertakings are authorized or required to be given, they may be contained in the same instrument.
(c) Condition. Where no condition is specified in an undertaking in an action or proceeding, the condition shall be that the principal shall faithfully and fairly discharge the duties and fulfill the obligations imposed by law, or court order. Where the condition specifies that the undertaking is to be void upon payment of an amount or performance of an act, the undertaking shall be construed in accordance with the provisions of section 7-301 of the general obligations law.
(d) Acknowledgment. The undertaking shall be acknowledged in the form required to entitle a deed to be recorded.
Cite this article: FindLaw.com - New York Consolidated Laws, Civil Practice Law and Rules - CVP § 2502. Surety; form of affidavit; two or more undertakings; condition; acknowledgment - last updated January 01, 2024 | https://codes.findlaw.com/ny/civil-practice-law-and-rules/cvp-sect-2502/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)