N.Y. C.P.L.R. 5032

§ 5032. Form of security. Security authorized or required for payment\nof a judgment for periodic installments entered in accordance with this\narticle must be in the form of an annuity contract, executed by a\nqualified insurer and approved by the superintendent of financial\nservices pursuant to section five thousand thirty-nine of this article,\nand approved by the court.\n