2006 New York Code - Surety.

    §  20-776  Surety.  Unless  otherwise  required by New York State law,
  every provider must maintain in full force and effect a bond,  contract,
  of  indemnity, or irrevocable letter of credit, payable to the people of
  the city of New York, in the principal amount of fifty thousand dollars.
  Such surety shall be for the benefit of any person who does not  receive
  a refund of fees from the provider to which he or she is entitled, or is
  otherwise  injured  by  the  provider. The Commissioner on behalf of the
  person or the person in his or her  own  name  may  maintain  an  action
  against the provider and the surety.

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