State v. Insurance Co. of Pennsylvania

Appeals (1) from an order of the Supreme Court (Teresi, J.), entered January 25, 2002 in Albany County, which, inter alia, granted plaintiff’s motion for summary judgment, and (2) from the judgment entered thereon.

Herkimer Wholesale Company, a licensed cigarette wholesaler and tax agent, purchased tax stamps on credit from plaintiff and, pursuant to Tax Law § 471 (1) and § 1103 (a) (2), secured a bond from National Union Fire Insurance Company of Pittsburgh in the amount of $1.7 million which named plaintiff as an obligee. Subsequently, defendant assumed liability for the bond and increased…