2006 New York Code - Form Of Security.

 
    §  5032. Form of security. Security authorized or required for payment
  of a judgment for periodic installments entered in accordance with  this
  article  must  be  in  the  form  of  an annuity contract, executed by a
  qualified insurer  and  approved  by  the  superintendent  of  insurance
  pursuant  to  section  five  thousand  thirty-nine  of this article, and
  approved by the court.