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What is NYC AC § 7-601?

Quick Answer

This section requires the register to provide a bond of eighty thousand dollars to the city and state before assuming office. The bond ensures the faithful discharge of duties, including those related to the tax on mortgages. Applies to the register and parties affected by their official actions.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 7-601 Register; bond.

AC § 7-601

a. The register, before entering upon the duties of office, shall give a bond to the city and to the people of the state of New York in the sum of eighty thousand dollars, with not less than two sufficient sureties to be approved by the comptroller, conditioned that the register will faithfully discharge the duties of such office and all trusts imposed upon him or her by law by virtue of the register's office, including all duties in connection with the tax on mortgages as prescribed by article eleven of the tax law. Such bond shall be filed in the office of the comptroller. b. In case of any official misconduct, default, neglect or omission of duty on the part of the register, an action upon such bond may be brought and prosecuted to judgment by the person or corporation injured or damaged by such official misconduct, default, neglect or omission of duty.

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