§ 1048-v. Actions against authority and water board. 1. Except in an
action for wrongful death, no action or proceeding shall be prosecuted
or maintained against the authority or the water board for personal
injury or damage to real or personal property alleged to have been
sustained by reason of the negligence or wrongful act of the authority
or the board or of any member, officer, agent or employee thereof,
unless (i) a notice of claim shall have been made and served upon the
authority or the water board, as the case may be, within the time limit
by and in compliance with section fifty-e of the general municipal law,
(ii) it shall appear by and as an allegation in the complaint or moving
papers that at least thirty days have elapsed since the service of such
notice and that adjustment or payment thereof has been neglected or
refused, and (iii) the action or proceeding shall be commenced within
one year and ninety days after the happening of the event upon which the
claim is based. An action against the authority or water board for
wrongful death shall be commenced in accordance with the notice of claim
and time limitation provisions of title eleven of article nine of this
chapter.

2. Wherever a notice of claim is served upon the authority or the
water board, it shall have the right to demand an examination of the
claimant relative to the occurrence and extent of the injuries or
damages for which claim is made, in accordance with the provisions of
section fifty-h of the general municipal law.

3. The authority or the water board may require any person presenting
for settlement an account or claim for any cause whatever against the
authority or the water board, as the case may be, to be sworn before a
member, counsel or an attorney, officer or employee thereof designated
for such purpose, concerning such account or claim and when so sworn, to
answer orally as to any facts relative to such account or claim. The
authority or the water board shall have power to settle or adjust all
claims in favor of or against the authority or the water board, as the
case may be.

4. The rate of interest to be paid by the authority or the water board
upon any judgment for which it is liable, other than a judgment against
the authority on bonds, shall not exceed the rate of interest on
judgments and accrued claims against municipal corporations as provided
in the general municipal law from time to time. Interest on payments of
principal or interest on any bonds in default shall accrue at the rate
borne by such bonds from the due date thereof until paid or otherwise
satisfied.