§ 1198-o. Actions against the authority. 1. No action or proceeding
shall be prosecuted or maintained against the authority 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 any member, officer, agent or employee thereof, unless:

(a) a notice of claim shall have been made and served upon the
authority within the time limit by and in compliance with section
fifty-e of the general municipal law,

(b) 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

(c) 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.

2. Wherever a notice of claim is served upon the authority, 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 may require any person presenting for settlement an
account or claim for any cause whatever against the authority 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 shall have power to settle or adjust all
claims in favor of or against the authority.

4. The rate of interest to be paid by the authority upon any judgment
for which it is liable, other than a judgment against the authority on
bonds, shall not exceed six per centum per annum. Interest on payments
of principal or interest on any bonds in default shall accrue at the
rate borne by such bonds from the date thereof until paid or otherwise
satisfied.