§ 460-F — Surety requirement

New York § 460-F

• Jurisdiction: New York
• Law GBS: General Business
• Art. 28-C: Immigrant Assistance Services

Text

§ 460-f. Surety requirement. Every provider shall maintain in full\nforce and effect for the entire period during which the provider\nprovides immigrant assistance services and for one year after the\nprovider ceased to do business as an immigrant assistance service\nprovider, a bond, contract of indemnity, or irrevocable letter of\ncredit, payable to the people of the state of New York, in the principal\namount of fifty thousand dollars; provided, however, that every provider\nthat receives in excess of two hundred fifty thousand dollars in total\nfees and other compensation for providing immigrant assistance service\nduring any twelve-month period shall maintain in full force and effect a\nbond, contract of indemnity, or irrevocable letter of credit, payable to\nthe people of the state of New York, in the principal amount of twenty\npercent of such total fees and compensation. Such surety shall be for\nthe benefit of any customer who does not receive a refund of fees from\nthe provider to which he or she is entitled, or is otherwise injured by\nthe provider. The attorney general on behalf of the customer or the\ncustomer in his or her own name, may maintain an action against the\nprovider and the surety.\n