LogFAQs > #979743337

https://www.thedailybeast.com/new-york-ag-questions-if-dollar175-million-bond-insurer-can-save-trump

But just before the new paperwork was filed, Knight Specialty Insurance president Amit Shah told CBS that the company has a novel theory as to why the state capital requirements dont apply to their firm: because Knight Insurance isnt even registered to operate as a surety in New York.

One problem with that theory:

https://law.justia.com/codes/new-york/2022/cvp/article-25/2502/

2502. Surety; form of affidavit; two or more undertakings; condition; acknowledgment. (a) Surety; form of affidavit. Unless the court orders otherwise, surety shall be: 1. an insurance company authorized to execute the undertaking within the state, or 2. a natural person, except an attorney, who shall execute with the undertaking his affidavit setting forth his full name and address and that he is domiciled within the state and worth at least the amount specified in the undertaking exclusive of liabilities and of property exempt from application to the satisfaction of a judgment.

So the company says it's okay since we aren't bonded in New York, yet New York requires them to be.

So, good luck.