N.Y. State Finance Law § 141: Claims against contractors

§ 141. Claims against contractors. A contractor under a contract

heretofore or hereafter made or awarded by the state or by any public

department or official thereof, in case any claim or notice of claim for

injury or damage to person or property, arising out of or in connection

with the performance of such contract, be made to or filed with the

state or any public department or official thereof, may file with the

comptroller an undertaking in the terms and manner prescribed in this

section, and thereupon the comptroller shall be authorized to make

payments to such contractor pursuant to the terms of such contract. Such

undertaking shall be executed with such sureties, in such form and for

such amount as the comptroller may prescribe, and shall be conditioned

for the payment by such contractor of any judgment which may be

recovered in an action brought upon such claim.