N.Y. Civil Practice Law & Rules § 2502: Surety; form of affidavit; two or more undertakings; condition; acknowledgment

§ 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 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.