Title ABP, Abandoned Property

§ 1403. Sale of personal property by state comptroller. 1. Except as\nprovided in subdivision one-a of this section, all abandoned property,\nother than money, heretofore paid to the state shall, prior to October\nfirst, nineteen hundred forty-five, be sold by the state comptrol…

§ 1404. Assumption of liability by the state; return of property\nerroneously paid to state comptroller. 1. The care and custody, subject\nonly to the duty of conversion prescribed in section fourteen hundred\ntwo of this chapter, of all abandoned property heretofore paid to the…

§ 1405. Accrual of interest after payment of abandoned property to the\nstate comptroller. 1. (a) Notwithstanding any other provision of law, no\nowner of abandoned property shall be entitled to receive interest on\naccount of such abandoned property from and after the date a pa…

§ 1406. Claims for abandoned property heretofore or hereafter paid to\nthe state. 1. (a) Claim may be filed with the state comptroller for any\nabandoned property amounting to over three dollars heretofore paid to\nthe state or hereafter paid or delivered to the state comptrolle…

§ 1407. Payment by comptroller. 1. Any claim which is allowed by the\ncomptroller or ordered to be paid by the comptroller by a court of\ncompetent jurisdiction pursuant to the provisions of section fourteen\nhundred six of this article, together with such costs and disbursement…

§ 1409. Payment for publication. Any amount paid by a person to a\nnewspaper or newspapers for any publication of names as required by this\nchapter shall be charged pro rata against all abandoned property held or\nowing by such person at the time of such publication, except aba…

§ 1410. Designation of newspapers. Any notice required by this chapter\nshall be published in such newspapers as shall be designated by the\nstate comptroller, except that in no case shall a notice be published in\na newspaper other than one specified in the section requiring su…

§ 1411. Waiver of publication. The state comptroller may waive the\npublication of any notice required by this chapter, except a notice\nrequired by section fourteen hundred two, whenever in his opinion the\ncost of publishing such notice would be unreasonable in relation to the…

§ 1412. Penalty, interest and special proceedings\n 1. Any person wilfully failing to make any full and complete report or\nto file any affidavit required by this chapter shall forfeit to the\npeople of the state the sum of one hundred dollars for each day such\nreport or affida…

§ 1412-a. Retention of books and records. 1. Except as provided in\nsection five hundred thirteen-a of this chapter, every person,\nco-partnership, unincorporated association or corporation required to\nfile a report of abandoned property pursuant to this chapter, shall\nretain …

§ 1413. Penalty for fraudulent returns. The making of a willful false\noath in any report required under the provisions of this chapter shall\nbe perjury and punishable as such according to law.\n

§ 1414. Comptroller to make regulations. The state comptroller is\nhereby authorized to make such rules and regulations as he may deem\nnecessary to enforce the provisions of this chapter.\n

§ 1415. Deduction of certain charges. No deduction shall be made for\nservice, handling or maintenance charges from property subject to the\nabandoned property law, by the holder of such property, unless such\ndeduction is made pursuant to:\n (a) the laws of the state of New Yor…

§ 1416. Restriction on agreement to locate and/or retrieve abandoned\nproperty. 1. For the purposes of this section, "abandoned property\nlocation services" shall include any service for a fee providing\nassistance to consumers for the purposes of locating and/or retrieving\npro…

§ 1417. Agreements with other states. 1. The state comptroller is\nauthorized to enter into reciprocal agreements with appropriate officers\nor agencies of other states to effectuate the purposes of this chapter.\n 2. Reciprocal agreements entered into pursuant to this section m…

§ 1418. Property for New York residents held by other states. 1. All\nproperty heretofore or hereafter reported and paid to any other state\npursuant to the provisions of such other state's unclaimed property laws\nshall be deemed abandoned property subject to the provisions of …

§ 1419. Reporting of abandoned property in the aggregate.\nNotwithstanding any provision of this chapter to the contrary, the\nholder of property which must be reported and delivered to the state\ncomptroller as abandoned property need not specify the name, address or\nother inf…

§ 1420. Property held by agricultural cooperative corporations. 1.\nFor the purposes of this section, "agricultural cooperative corporation"\nshall include any corporation organized or qualified to do business in\nthis state pursuant to the cooperative corporations law, which is…

§ 1421. Property held by rural electric cooperatives. 1. For the\npurposes of this section, "rural electric cooperatives" shall include\nany corporation organized or qualified to do business in this state\npursuant to the rural electric cooperative law.\n 2. Notwithstanding any …

§ 1422. Mailing of notice to owners of record. 1. Any holder of\nunclaimed funds which is not otherwise required to perform owner\nnotification mailings under the provisions of this chapter shall send,\nnot less than ninety days prior to the applicable reporting date for\nsuch u…

§ 1500. Laws repealed. Of the laws enumerated in the schedule annexed\nto this chapter, that portion specified in the last column is hereby\nrepealed.\n

§ 1501. Constitutionality. If any part, provision or section of this\nchapter, or the application of any such part, provision or section in\nany particular respect, shall be adjudged by any court of competent\njurisdiction to be unconstitutional or ineffective in whole or in par…

§ 1502. Effective date. This chapter shall take effect June first,\nnineteen hundred forty-four.\n

§ 200. Escheated lands. All lands the title of which shall fail from\na defect of heirs, shall revert, or escheat, to the people.\n

§ 201. Action for recovery of property. Whenever the attorney-general\nhas good reason to believe that the title to, or right of possession of,\nany real property has vested in the people of the state by escheat\nwhether from defect of heirs, alienage or otherwise, or by convict…

§ 202. Parties to action. There may be made parties to such action,\nall persons who would have, might have or might claim to have any\ninterest in or lien upon the premises so escheated or forfeited, at the\ntime of such escheat or forfeiture, and all persons in possession of\n…

§ 203. Effect of judgment in favor of people. A final judgment in\nfavor of the people in an action authorized as set forth in section two\nhundred one is conclusive as to the title of the people in and to the\npremises described in said judgment against any and all parties in s…

§ 204. Sale of property recovered. Upon the rendering of final\njudgment in an action authorized by section two hundred one, the\ncommissioner of general services may sell or transfer the property as\nunappropriated land in accordance with the provisions of article three\nof the…

§ 205. Report by attorney-general. The attorney-general shall report\nto the commissioner of general services all the real property recovered\nby the people in any action brought pursuant to this article.\n

§ 206. Petition for release of escheated lands. 1. Where there is\ngood reason to believe that real property shall have escheated to the\nstate and final judgment shall not have been entered as hereinbefore\nprovided, a petition for the release to the petitioner of any interest\…

§ 207. Proceedings on receipt of petition. Prior to the presentation\nof such petition, the petitioner shall cause to be personally served\nupon each person who would have succeeded to any interest in said land\nbut for the alienage of such person or another or for any other rul…

§ 208. Release. 1. The commissioner shall make his determination and\nenter an order accordingly. The commissioner may agreeably to the best\ninterest of the state and in his discretion, if he deems it just to all\npersons interested, execute in the name of the state, a release …

§ 209. Effect of release on rights of others. No such release shall\nimpair or affect any right, title, interest or estate in or to the lands\nthereby released, of any heir-at-law, devisee, grantee, mortgagee or\ncreditor of any person having an interest in the real property rel…

§ 210. Protest against release. Any person may file, at any time, with\nthe commissioner, a protest, stating his name, residence and post-office\naddress, against the release by the state of any interest of the people\nof the state acquired by escheat, in any real property descr…

§ 211. Lands held under written contract. Where lands have been\nescheated to the state and the person last seized was a citizen or\ncapable of taking and holding real property the commissioner shall\nfulfill any contract made by such person or by any person from whom his\ntitle…

§ 212. Escheated lands subject to trusts and incumbrances. Lands\nescheated to the state shall be held subject to the same trusts and\nincumbrances to which they would have been subject if they had\ndescended, except that where the owner or beneficiaries of such trusts\nor the h…

§ 213. Condemnation awards as interest in real property. An interest\nin real property escheated to the state shall for the purposes of this\narticle, be deemed to include any and all awards heretofore or hereafter\nmade in condemnation proceedings against such escheated lands a…

§ 214. Receiver. At any time during the pendency of said action\npursuant to section two hundred one, the court may upon application\ntherefor appoint a receiver to conserve said property and to receive the\nrents, income and profits therefrom during the pendency of the action.\…

§ 215. Claims against state. Where an action has been commenced and\nfinal judgment in favor of the people entered therein by reason of the\nescheat of real property to the people and the said property has been\nsold pursuant to section two hundred four, any party or parties the…

§ 300. Unclaimed property held or owing by banking organizations. 1.\nThe following unclaimed property held or owing by banking organizations\nshall be deemed abandoned property:\n (a) Any amounts due on deposits or any amounts to which a shareholder\nof a savings and loan assoc…

§ 302. Publication of list of abandoned property. 1. Every banking\norganization shall cause to be published, on or before the first day of\nSeptember in each year, a notice entitled: "NOTICE OF NAMES OF PERSONS\nAPPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY (name of…

§ 303. Payment of abandoned property. 1. In such succeeding month of\nNovember, and on or before the tenth day thereof, every banking\norganization shall pay or deliver to the state comptroller all property\nwhich, as of the thirtieth day of June next preceding, was deemed\naban…

§ 304. Unclaimed property held by the superintendent of financial\nservices after liquidation. 1. All amounts held by the superintendent of\nfinancial services as trustee for the owners thereof after the\ncompletion of the voluntary or involuntary liquidation of the business\nan…

§ 305. Payment of abandoned property after liquidation by\nsuperintendent of financial services. 1. Not later than the first day of\nOctober in each year the superintendent of financial services shall pay\nto the state comptroller all such abandoned property held by him which\ns…

§ 306. Reimbursement for instruments paid. Any banking organization\nwhich has paid to the state comptroller abandoned property held or owing\nfor the payment of a negotiable instrument or a certified check may make\npayment to the person entitled thereto, upon presentation of t…

§ 400. Unclaimed deposits and refunds for utility services. 1. The\nfollowing unclaimed moneys held or owing by a gas corporation, an\nelectric corporation, a gas and electric corporation, a district steam\ncorporation, an energy services company, a telegraph corporation, a\ntel…

§ 402. Publication of notice of abandoned property. 1. Every such\ncorporation or ESCO shall cause to be published, on or before the first\nday of September in each year, a notice entitled: "NOTICE OF CERTAIN\nUNCLAIMED PROPERTY HELD BY (name of corporation or ESCO)."\n 2. Such …

§ 403. Payment of abandoned property. 1. In such succeeding month of\nOctober, and on or before the tenth day thereof, every such corporation\nor ESCO shall pay to the state comptroller all property which, as of the\nfirst day of July next preceding, was deemed abandoned pursuan…

§ 500. Definitions. When used in this article, the following terms\nshall have the following meanings:\n 1. (a) "Corporation" shall mean any corporation (other than a public\ncorporation as defined in paragraph (b) of this subdivision), joint\nstock company, association of two o…

§ 501. Unclaimed property; when deemed abandoned. 1. (a) Any amount\nwhich, on or after January first, nineteen hundred forty-seven, shall\nhave become payable or distributable by a domestic, foreign or public\ncorporation or by a fiduciary to a resident as the owner or former o…