N.Y. Comp. Codes R. & Regs. tit. 1 § 43.12

Current through Register Vol. 46, No. 50, December 11, 2024

Section 43.12 - Claims against surety bonds or alternative security

(a) The limitations and conditions governing claims against mandatory minimum surety bonds and the producers security fund as set forth in section 43.9(a)- (d) of this Part shall be applicable to claims filed by producers or a market administrator against a surety bond or alternative security pursuant to section 258-b(9) of the law.

(b) Monies available in the producers security fund to pay producer claimants for whom recovery on a surety bond has not been made within 60 days of the commissioner's certification of the amounts due such producers shall be the balance in the fund less the amount of any producer claims pending against the fund or which the commissioner has reason to believe will be filed against the fund.

N.Y. Comp. Codes R. & Regs. Tit. 1 § 43.12