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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