§ 5042. Form of security. Security authorized or required for payment of a judgment for periodic installments entered in accordance with this article must be in the form of an annuity contract, executed by a qualified insurer and approved by the superintendent of financial services pursuant to section five thousand forty-nine of this article, and approved by the court.
Form of security
N.Y. Civil Practice Law & Rules Law § 5042, under Periodic Payment of Judgments In Personal Injury, Injury to Property and Wrongful Death Actions.
N.Y. Civil Practice Law & Rules Law § 5042