General Obligations Law 5-322.3 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 5-322.2 Contents of certain construction contracts up TITLE 3 Certain Prohibited Contracts and Provisions of Contracts next SECTION 5-323 Agreements exempting building service or maintenance contractors from liability for negligence void and unenforceable Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 5-322.3 Payment bonds to be filed General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 3 § 5-322.3. Payment bonds to be filed. A copy of any payment bond executed in connection with a contract for the improvement of real property other than a contract for a public improvement, shall be filed within thirty days of such execution by the owner of the improvement in the office of the county clerk in the county in which the improvement is to be undertaken; provided, however, that such filing shall be required only where the contract for the improvement of real property is for an amount in excess of one hundred thousand dollars. Any owner failing to file such payment bond as provided herein shall be liable for the reasonable attorney's fees, as determined by the court, of any claimant successfully bringing an action or proceeding on the bond.