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This entry was published on 2015-02-06
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SECTION 460-F
Surety requirement
General Business (GBS) CHAPTER 20, ARTICLE 28-C
§ 460-f. Surety requirement. Every provider shall maintain in full
force and effect for the entire period during which the provider
provides immigrant assistance services and for one year after the
provider ceased to do business as an immigrant assistance service
provider, a bond, contract of indemnity, or irrevocable letter of
credit, payable to the people of the state of New York, in the principal
amount of fifty thousand dollars; provided, however, that every provider
that receives in excess of two hundred fifty thousand dollars in total
fees and other compensation for providing immigrant assistance service
during any twelve-month period shall maintain in full force and effect a
bond, contract of indemnity, or irrevocable letter of credit, payable to
the people of the state of New York, in the principal amount of twenty
percent of such total fees and compensation. Such surety shall be for
the benefit of any customer 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 attorney general on behalf of the customer or the
customer in his or her own name, may maintain an action against the
provider and the surety.