2016 New York Laws
GMU - General Municipal
Article 5-A - (General Municipal) PUBLIC CONTRACTS
105 - Disposition of deposit accompanying bid.

  105.  Disposition of deposit accompanying bid.  Notwithstanding any
  inconsistent provision of any general, special or local law, whenever as
  a condition precedent to the reception or consideration  of  a  bid  for
  furnishing  supplies,  materials,  or equipment or performing work for a
  political subdivision or any officer, board or agency thereof or of  any
  district  therein, a deposit of a certified check, money, bonds or other
  obligations is required, a person or corporation submitting  a  bid  may
  withdraw  the same if no award of the contract be made within forty-five
  days after the receipt thereof, and upon such  withdrawal  such  deposit
  shall  be  forthwith  returned. A certified check, money, bonds or other
  obligations or security deposited to secure  a  bid  shall  be  retained
  under  the jurisdiction and control of the chief fiscal officer or other
  officer of the political subdivision or district having custody  of  its
  money, until returned to the bidder or forfeited.