N.Y. STF Law § 140
This is the official text of N.Y. STF Law § 140, part of New York’s STF Law — part of the compiled statutory law of New York, published by the state as "STF Law." Browse the sections below, each linked to its official government source.
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Disposition of deposit accompanying bid
Official statutory text
§ 140. Disposition of deposit accompanying bid. Whenever as a\ncondition precedent to the reception or consideration of a proposal for\nconstruction, alteration, repair or improvement for the state or any\ndepartment or officer thereof, a deposit of a certified check, money,\nbonds, corporate stock, certificates of indebtedness, or otherwise, is\nrequired, a bidder under such proposal may withdraw his bid if no award\nof the contract be made within forty-five days after the receipt of the\nbids, and upon such withdrawal his deposit shall be forthwith returned\nto him. A check, money, corporate stock, bond, or other security, the\ndeposit of which is required by statute to secure a bid upon such a\nproposal shall be retained under the jurisdiction of the comptroller\nuntil returned to the bidder, or forfeited as provided by the law\npursuant to which such proposal was made. The provisions of this section\nshall supersede the provisions of any act inconsistent herewith.\n
Status: in_force · Read it on the official government site
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