General Obligations Law § 7-301 · Title 3. Bonds and Undertakings
Liability of surety on an undertaking
Text — Law content up to date as of July 24, 2026, as published by the New York State Senate (Open Legislation)
§ 7-301. Liability of surety on an undertaking. When any undertaking executed within or without the state specifies that it is to be void upon payment of an amount or performance of an act, the undertaking shall be deemed to contain a covenant either to pay the amount or to perform the act specified. In the event of payment, the amount recoverable from a surety shall not exceed the amount specified in the undertaking except that interest in addition to this amount shall be awarded from the time of default by the surety.
Source of truth
- Edition
- Law content up to date as of July 24, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/GOB7-301
- Text hash
- sha256 de041d4b1d02b0d870ef9dab3c75b973fdd098e74efcdbbc40a76aa8f3d6c472
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
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