New York § 5-322.3 Payment bonds to be filed

New York Statutes

§ 5-322.3 — Payment bonds to be filed

New York § 5-322.3

Law GOBGeneral Obligations

Title 3Certain Prohibited Contracts and Provisions of Contracts

Art. 5Creation, Definition and Enforcement of Contractual Obligations

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Bluebook

N.Y. General Obligations § 5-322.3 (2026).

Text

  § 5-322.3. Payment bonds to be filed. A copy of any payment bond\nexecuted in connection with a contract for the improvement of real\nproperty other than a contract for a public improvement, shall be filed\nwithin thirty days of such execution by the owner of the improvement in\nthe office of the county clerk in the county in which the improvement is\nto be undertaken; provided, however, that such filing shall be required\nonly where the contract for the improvement of real property is for an\namount in excess of one hundred thousand dollars. Any owner failing to\nfile such payment bond as provided herein shall be liable for the\nreasonable attorney's fees, as determined by the court, of any claimant\nsuccessfully bringing an action or proceeding on the bond.\n

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§ 5-322.3. Payment bonds to be filed. A copy of any payment bond\nexecuted in connection with a contract for the improvement of real\nproperty other than a contract for a public improvement, shall be filed\nwithin thirty days of such execution by the owner of the improvement in\nthe office of the county clerk in the county in which the improvement is\nto be undertaken; provided, however, that such filing shall be required\nonly where the contract for the improvement of real property is for an\namount in excess of one hundred thousand dollars. Any owner failing to\nfile such payment bond as provided herein shall be liable for the\nreasonable attorney's fees, as determined by the court, of any claimant\nsuccessfully bringing an action or proceeding on the bond.\n