Laws of New York (Last Updated: November 21, 2014)

Section 2501. Undertaking; definition

Latest version.

Undertaking includes
    1.  Any  obligation,  whether or not the principal is a party thereto,
  which contains a covenant by a surety to pay  the  required  amount,  as
  specified therein, if any required condition, as specified therein or as
  provided in subdivision (c) section 2502, is not fulfilled; and
    2.  any  deposit,  made  subject  to  the  required  condition, of the
  required amount in legal tender of the United States or in face value of
  unregistered bonds of the United States or of the state.

                    
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