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http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=47225 Justice Schmidt PLAINTIFF SUBCONTRACTOR sought payment owed by a school construction project’s general contractor. Defendant guarantor’s payment bonds, completed by the general contractor for the New York School Construction Authority, stated that they were governed by a two-year limitations period. The guarantor sought dismissal of plaintiff’s action as time-barred under the one-year statute of limitations set forth at State Finance Law �137. Plaintiff argued that the one-year statute of limitations for the subject payment bonds was expanded to two years by the terms of the bonds. The court denied dismissal. Citing the Court of Appeals’ decision in A.C. Legnetto Construction Inc. v. Hartford Fire Ins. Co., the court determined that the one-year statute of limitations established by State Finance Law �137 is applicable to payment bonds unless such bonds themselves contain an expanded statute of limitations period.

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