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NYC Administrative Code

§ 20-115 — Bonds.

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What is NYC AC § 20-115?

Quick Answer

This section outlines the requirement for a bond for any licensed activity, detailing that the bond's form and amount must be approved by the commissioner. The amount is determined after a public hearing with prior notice published in the City Record. Applies to entities engaged in licensed activities.

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

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§ 20-115 Bonds.

AC § 20-115

Except as specifically provided in chapter two, a bond may be required for any licensed activity in a form and amount approved by the commissioner for the due observance of the provisions of chapter two and the laws, regulations and rules governing the conduct of licensed activities. The amount of the bond shall be established by the commissioner after a public hearing, five-day notice of which shall be published in the City Record.

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