4:12-9. Claims to which bonds, moneys or securities applicable
Every bond given and all moneys or securities deposited pursuant to the provisions of this article shall be applicable to the payment of all claims arising during the license period for which such bond was filed, or moneys or securities deposited.
Claims not filed during the license period or within ninety days from the termination of the license period, shall not be received, acted upon or paid and shall not participate in the proceeds of any bond, moneys or securities deposited with the secretary.