§ 1020-y. Court proceedings; preferences; venue. 1. Any action, suit or proceeding to which the authority may be a party in which any question arises as to the validity of this title or the valuation of stock or assets acquired by the authority by the exercise of the power of eminent domain shall be preferred over all other civil causes in all courts of the state, except election matters, and shall be heard and determined in preference to all other civil business pending therein, except election matters, irrespective of position on the calendar. The same preference shall be granted upon application of counsel to the authority in any action or proceeding questioning the validity of this title or the valuation of stock or assets acquired by the authority by the exercise of the power of eminent domain in which such counsel may be allowed to intervene. The venue of any action or proceeding questioning the validity of this title shall be laid in the county in which the principal office of the authority is located.

2. In the event any party shall appeal an award of compensation for the taking by the authority of stock or assets, such party shall post a bond in such amount, if any, as the supreme court shall deem appropriate to adequately protect the interests of the other party under all the circumstances.

3. Except in an action for wrongful death, an action against the authority founded on tort shall not be commenced more than one year and ninety days after the cause of action therefor shall have accrued, nor unless a notice of claim shall have been served on the authority within the time limited by, and in compliance with all the requirements of section fifty-e of the general municipal law. An action against the authority 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.