Section 141. Claims against contractors

A contractor under a contract
  heretofore or hereafter made or awarded by the state or  by  any  public
  department or official thereof, in case any claim or notice of claim for
  injury  or damage to person or property, arising out of or in connection
  with the performance of such contract, be made  to  or  filed  with  the
  state  or  any  public department or official thereof, may file with the
  comptroller an undertaking in the terms and manner  prescribed  in  this
  section,  and  thereupon  the  comptroller  shall  be authorized to make
  payments to such contractor pursuant to the terms of such contract. Such
  undertaking shall be executed with such sureties, in such form  and  for
  such  amount  as the comptroller may prescribe, and shall be conditioned
  for the payment  by  such  contractor  of  any  judgment  which  may  be
  recovered in an action brought upon such claim.