N.Y. CPLR § 5003-A

NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only CPLR § 5003-A Prompt payment following settlement § 5003-a. Prompt payment following settlement. (a) When an action torecover damages has been settled, any settling defendant, except thosedefendants to whom subdivisions (b) and (c) of this section apply, shallpay all sums due to any settling plaintiff within twenty-one days oftender, by the settling plaintiff to the settling defendant, of a dulyexecuted release and a stipulation discontinuing action executed onbehalf of the settling plaintiff.(b) When an action to recover damages has been settled and thesettling defendant is a municipality or any subdivision thereof, or anypublic corporation that is not indemnified by the state, it shall payall sums due to any settling plaintiff within ninety days of tender, bythe settling plaintiff to it, of duly executed release and a stipulationdiscontinuing action executed on behalf of the settling plaintiff. Theprovisions of this paragraph shall not inure to the benefit of anyinsurance carrier for a municipality or any subdivision thereof, or anypublic corporation that is not indemnified by the state. Any suchinsurance carrier shall pay all sums due to any settling plaintiff inaccordance with the provisions of subdivision (a) of this section.(c) When an action to recover damages has been settled and thesettling defendant is the state, an officer or employee of the stateentitled to indemnification pursuant to section seventeen of the publicofficers law, or a public benefit corporation indemnified by the state,payment of all sums due to any settling plaintiff shall be made withinninety days of the comptroller's determination that all papers requiredto effectuate the settlement have been received by him. The provisionsof this paragraph shall not inure to the benefi inninety days of the comptroller's determination that all papers requiredto effectuate the settlement have been received by him. The provisionsof this paragraph shall not inure to the benefit of any insurancecarrier for the state, an officer or employee of the state entitled toindemnification pursuant to section seventeen of the public officerslaw, or a public benefit corporation indemnified by the state. Any suchinsurance carrier shall pay all sums due to any settling plaintiff inaccordance with the provisions of subdivision (a) of this section.(d) In an action which requires judicial approval of settlement, otherthan an action to which subdivision (c) of this section applies, theplaintiff shall also tender a copy of the order approving suchsettlement with the duly executed release and stipulation discontinuingaction executed on behalf of the plaintiff.(e) In the event that a settling defendant fails to promptly pay allsums as required by subdivisions (a), (b), and (c) of this section, anyunpaid plaintiff may enter judgment, without further notice, againstsuch settling defendant who has not paid. The judgment shall be for theamount set forth in the release, together with costs and lawfuldisbursements, and interest on the amount set forth in the release fromthe date that the release and stipulation discontinuing action weretendered.(f) Nothing in this section shall apply to settlements subject toarticle seventy-four of the insurance law or to future installmentpayments to be paid pursuant to a structured settlement agreement.(g) The term "tender", as used herein, shall mean either to personallydeliver or to mail, by registered or certified mail, return receiptrequested.