N.Y. CPLR § 2502

NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only CPLR § 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 thecourt orders otherwise, surety shall be:1. an insurance company authorized to execute the undertaking withinthe state, or2. a natural person, except an attorney, who shall execute with theundertaking his affidavit setting forth his full name and address andthat he is domiciled within the state and worth at least the amountspecified in the undertaking exclusive of liabilities and of propertyexempt from application to the satisfaction of a judgment.(b) Two or more undertakings. Where two or more undertakings areauthorized or required to be given, they may be contained in the sameinstrument.(c) Condition. Where no condition is specified in an undertaking in anaction or proceeding, the condition shall be that the principal shallfaithfully and fairly discharge the duties and fulfill the obligationsimposed by law, or court order. Where the condition specifies that theundertaking is to be void upon payment of an amount or performance of anact, the undertaking shall be construed in accordance with theprovisions of section 7-301 of the general obligations law.(d) Acknowledgment. The undertaking shall be acknowledged in the formrequired to entitle a deed to be recorded.