New York Laws
Article 50-B - Periodic Payment of Judgments in Personal Injury, Injury to Property and Wrongful Death Actions
5042 - Form of Security.

ยง 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.