Title ABP, Abandoned Property

§ 1000. Unclaimed condemnation awards. 1. (a) Any moneys held or owing for the payment of an award made by a court in any condemnation proceeding and payable by a public corporation or other corporation possessing powers of condemnation, which shall have remained unclaimed by th…

§ 1002. Publication of notice of abandoned property. 1. Every such corporation shall cause to be published, on or before the first day of November in each year, once in a newspaper of general circulation in each county where a damaged parcel included in such report is located a …

§ 1003. Payment of abandoned property. 1. In such succeeding month of February, and on or before the tenth day thereof, every such public and other corporation shall pay to the state comptroller all property which, as of the first day of July next preceding, was deemed abandoned…

§ 101. Short title. This chapter shall be known and may be cited as the "Abandoned Property Law."

§ 102. Declaration of policy. It is hereby declared to be the policy of the state, while protecting the interest of the owners thereof, to utilize escheated lands and unclaimed property for the benefit of all the people of the state, and this chapter shall be liberally construed…

§ 103. Definitions. As used in this chapter (a) "Abandoned property fund" means the abandoned property fund established by section ninety-five of the state finance law, as such section was added by a chapter of the laws of nineteen hundred forty-four, entitled "An act to amend t…

§ 1200. Unclaimed property paid or deposited in federal courts. All money or other property which shall have been, or shall hereafter be, paid into or deposited in the custody of, or be under the control of, any court of the United States in and for any district within the state…

§ 1201. Presumption of abandonment. In any proceeding authorized by this article if it shall appear from the records of the court of the United States that the rightful owner or owners of money or property which has been or shall hereafter be deposited in the custody or be under…

§ 1202. Special proceeding for escheat. Whenever it shall appear, after investigation by the comptroller or otherwise, that there exists or may exist escheated property under this article, the attorney-general may institute a special proceeding in the name of the people of the s…

§ 1203. Jurisdiction. The supreme court shall have jurisdiction to hear and determine such a special proceeding. Such proceeding shall be commenced in the supreme court for the county in which is located the court of the United States into which such escheated property has been …

§ 1204. Respondents. There shall be named as respondents: (a) All last known owners or claimants as disclosed by the records of such court, provided however that if (1) the particular fund does not exceed five hundred dollars, or (2) such last known owners or claimants, with res…

§ 1205. Contents of petition. The petition shall briefly describe the fund or property with respect to which the proceeding is brought, and the nature of the action or proceeding which gave rise to the fund or property. It may include one or more items, as the attorney-general m…

§ 1206. Service of notice and petition. 1. The notice and petition shall be served upon the clerk of the court into which or into whose registry the fund or property has been paid or deposited or which has control or custody thereof, or which has jurisdiction to make orders for …

§ 1207. Contents and time of answer. For the purpose of reckoning the time within which a respondent must appear or answer, service by publication under this article is complete on the twenty-eighth day after the date of first publication. Any respondent, or any person making cl…

§ 1208. Amendment of proceedings. On application of the attorney-general the court shall: (a) order the proceeding with respect to items, or portions thereof, as to which claimants appear, to be severed into one or more separate proceedings, and allow all such proceedings to pro…

§ 1210. Judgment. If the court, after taking the testimony, shall determine either (a) that the rightful owner or owners of such funds or property are unknown or (b) that they have died without having disposed thereof, and without having left a will disposing thereof, and withou…

§ 1211. Collection by attorney-general. The attorney-general shall take appropriate action, by obtaining an order of the court of the United States, or otherwise, to collect and receive such funds or property.

§ 1212. Payment to the state comptroller; report. 1. Upon the collection or receipt of any such funds or property the attorney-general shall forthwith pay or deliver the same to the state comptroller. 2. Each such payment or delivery shall be accompanied by a written report sett…

§ 1213. Purpose and policy. It is the purpose of this article to extend the declared policy of the state with respect to unclaimed or abandoned property to all such property in the possession, custody or control of the United States of America, its officers, agencies, department…

§ 1214. Definitions. When used in this article, the following terms shall have the following meanings: (a) "Property" includes, but is not limited to, money, rights to claim refunds or rebates, postal savings deposits, bonds, notes, certificates, policies of insurance, other ins…

§ 1215. Escheat. If the rightful owner of any property in the possession, custody or control of the United States either (a) shall have been or shall be unknown for seven consecutive years; or (b) shall have died or shall die without having disposed thereof and without having le…

§ 1216. Presumptions. If it shall appear from the records of the United States that the rightful owner of property described in section twelve hundred fifteen of this article has not made claim thereto for a period of seven consecutive years, it shall be presumed for purposes of…

§ 1217. Procedure. Whenever it appears, after investigation by the comptroller or otherwise, that there exists or may exist escheated property under this article, the attorney general may take action to recover such property. For such purpose the attorney general may institute s…

§ 1218. Notice. The notice shall contain the names of known respondents or their class description when that is permitted under section twelve hundred seventeen (a) of this article, the class description of unknown owners or claimants, the time and place of hearing, the identity…

§ 1219. Petition. The petition shall describe the property with respect to which the proceeding is instituted, the facts from which the court may find that the requirements of section twelve hundred fifteen of this article have been met and from which the presumptions set forth …

§ 1220. Service. The notice shall be served (a) by first class mail on all known respondents for whom there is a last known address; and (b) by publication on unknown respondents and known respondents for whom there is no last known address in the manner provided in subdivision …

§ 1221. Judgment. If the court, after taking testimony shall determine the facts specified by section twelve hundred fifteen of this article, it shall make and enter findings and a final order as set forth in section twelve hundred ten of this chapter the provisions of which, in…

§ 1222. Application of other provisions of article twelve. The provisions of sections twelve hundred seven, twelve hundred eight, twelve hundred eleven and twelve hundred twelve of article twelve of this chapter shall apply to all escheat proceedings under this article.

§ 1223. Alternative to escheat. If it appears from the records of the United States that the rightful owner of any property subject to escheat under this article has not made claim thereto for seven years and the attorney general does not deem it advisable to institute an eschea…

§ 1300. Unclaimed surplus from sale of pledged property. 1. Any unclaimed moneys arising from the sale of any personal property which shall have been pledged or mortgaged as security for the loan of money with a corporation, except a banking organization or a licensed lender, he…

§ 1301. Unclaimed surplus from sale of pledge. 1. The word, "pledgee", as used in this section shall mean any person, partnership or corporation (a) loaning money on the deposit or pledge of personal property, or (b) purchasing personal property on condition of selling back at a…

§ 1304. Unclaimed personal property of persons in certain state institutions. 1. The following unclaimed property belonging or credited to a discharged, deceased or escaped person in an institution under the jurisdiction of the department of social services, the department of he…

§ 1305. Unclaimed surplus moneys after recovery of cost of public assistance and care. Any amount comprising a balance credited to an estate or person pursuant to sections one hundred fifty-two-b or three hundred sixty of the social services law which, on June thirtieth in any y…

§ 1306. Abandoned property resulting from the administration of the vehicle and traffic law. Any abandoned property resulting from the administration of the vehicle and traffic law in the hands of the commissioner of motor vehicles or the commissioner of taxation and finance on …

§ 1307. Unclaimed proceeds from the sale of wrecked property. 1. Any\nproceeds, less lawful deductions, from a sale of wrecked property\npursuant to section one hundred thirty-eight of the navigation law,\nshall be deemed abandoned property.\n 2. Any proceeds, less lawful deduct…

§ 1308. Unclaimed wages. 1. Any money received from or for the account of an employer and held or owing by the department of labor for the payment of compensation for services theretofore performed by employees or former employees of such employer, which shall have remained uncl…

§ 1309. Uncashed travelers checks and money orders. 1. Any amount held or owing by any organization other than a banking organization for the payment of a travelers check on which such organization is directly liable, sold by such organization on or after January first, nineteen…

§ 1310. Voluntary disposition of miscellaneous property not otherwise subject to this chapter. 1. Any person or entity who holds any intangible personal property, including the proceeds of a sale of tangible property, which is not otherwise subject to the provisions of this chap…

§ 1311. Unclaimed moneys erroneously collected by utility corporations on account of taxes. 1. Any amount held or owing by a gas corporation, an electric corporation, a gas and electric corporation, a district steam corporation, a telegraph corporation, a telephone corporation, …

§ 1312. Unclaimed amounts or securities held by foreign corporations not authorized to do business in the state of New York. 1. Any amounts or securities defined as abandoned property by articles three, four, five, five-a, seven and sections thirteen hundred one, thirteen hundre…

§ 1313. Unclaimed property held by sales finance companies and insurance premium finance agencies. 1. When used in this section the following terms shall have the following meanings: (a) "Company" shall mean a sales finance company as defined in subdivision seven of section four…

§ 1314. Unclaimed consumer credit balances. 1. Any amounts transferable to the New York state department of audit and control pursuant to section seven hundred fifteen of the general business law, to be held pursuant to the provisions of the abandoned property law, shall be tran…

§ 1315. Miscellaneous unclaimed property. This section shall encompass the following miscellaneous unclaimed property not otherwise covered by any other section of law. Such property shall be paid or delivered to the state comptroller at such times and shall be accompanied by re…

§ 1316. Unclaimed insurance proceeds other than life insurance. 1. Any amount issued and payable on or after July first, nineteen hundred seventy-four payable to a resident of this state on or because of a policy of insurance other than life insurance, which is held or owing by …

§ 1317. Unclaimed security deposits held by the title insurance companies. 1. Any amount held or owing by a domestic or foreign title insurer or by an agent or representative of such insurer as a security deposit, relating to the transfer or financing of real property located in…

§ 1318. Unclaimed spousal and child support. Any amount representing child support or child and spousal support paid to a support collection unit established by a social services district which has been delivered to the state comptroller pursuant to subdivision seven of section …

§ 1319. Unclaimed virtual currency. 1. Any virtual currency held or owing by any banking organization, corporation or other entity engaged in virtual currency business activity which shall have remained unclaimed by the person entitled thereto for a period of five years shall be…

§ 1400. Statutes of limitations not a bar. The expiration of any period of time specified by law, during which an action or proceeding may be commenced or enforced to secure payment of a claim for money or recovery of property, shall not prevent any such money or property from b…

§ 1401. Comptroller to maintain public record. The state comptroller shall maintain a public record of all names and last known addresses of the person or persons appearing to be entitled to abandoned property, heretofore paid to the state or hereafter paid or delivered to the s…

§ 1402. Publication of abandoned property by state comptroller. 1. (a) Notwithstanding anything to the contrary set forth in section fourteen hundred one of this article, the comptroller shall maintain on his or her website in a readily searchable format, a list of such abandone…