N.Y. General Obligations Law § 7-106: Money deposited or advanced for certain installations; waiver void

§ 7-106. Money deposited or advanced for certain installations; waiver

void. 1. Whenever any non-public moneys shall be deposited or advanced

by the owner of an occupied residential dwelling on a contract for the

installation of a private connection to a public sewer line as security

for payments or to be applied to payments upon such contract when due,

such money, with interest accruing thereon, if any, until repaid or so

applied, shall continue to be the money of the person making such

deposit or advance and shall be a trust fund in the possession of the

person with whom such deposit or advance shall be made and shall be

deposited in a bank, trust company, savings bank, savings and loan

association, federal savings and loan association or federal mutual

savings bank and shall not be mingled with other funds or become an

asset of such trustee.

2. Any provision of a contract whereby a person who has deposited or

advanced money on a contract for the installation of a private

connection to a public sewer line as security for payments or to be

applied to payments upon such contract when due waives any provision of

this section is absolutely void.