Title ABP, Abandoned Property

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

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

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

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

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

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

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

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

§ 1202. Special proceeding for escheat. Whenever it shall appear,\nafter investigation by the comptroller or otherwise, that there exists\nor may exist escheated property under this article, the attorney-general\nmay institute a special proceeding in the name of the people of th…

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

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

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

§ 1206. Service of notice and petition. 1. The notice and petition\nshall be served upon the clerk of the court into which or into whose\nregistry the fund or property has been paid or deposited or which has\ncontrol or custody thereof, or which has jurisdiction to make orders f…

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

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

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

§ 1211. Collection by attorney-general. The attorney-general shall\ntake appropriate action, by obtaining an order of the court of the\nUnited States, or otherwise, to collect and receive such funds or\nproperty.\n

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

§ 1213. Purpose and policy. It is the purpose of this article to\nextend the declared policy of the state with respect to unclaimed or\nabandoned property to all such property in the possession, custody or\ncontrol of the United States of America, its officers, agencies,\ndepart…

§ 1214. Definitions. When used in this article, the following terms\nshall have the following meanings:\n (a) "Property" includes, but is not limited to, money, rights to claim\nrefunds or rebates, postal savings deposits, bonds, notes, certificates,\npolicies of insurance, othe…

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

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

§ 1217. Procedure. Whenever it appears, after investigation by the\ncomptroller or otherwise, that there exists or may exist escheated\nproperty under this article, the attorney general may take action to\nrecover such property. For such purpose the attorney general may\ninstitu…

§ 1218. Notice. The notice shall contain the names of known\nrespondents or their class description when that is permitted under\nsection twelve hundred seventeen (a) of this article, the class\ndescription of unknown owners or claimants, the time and place of\nhearing, the iden…

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

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

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

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

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

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

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

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

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

§ 1306. Abandoned property resulting from the administration of the\nvehicle and traffic law. Any abandoned property resulting from the\nadministration of the vehicle and traffic law in the hands of the\ncommissioner of motor vehicles or the commissioner of taxation and\nfinance…

§ 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\naccount of an employer and held or owing by the department of labor for\nthe payment of compensation for services theretofore performed by\nemployees or former employees of such employer, which shall have\nremained …

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

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

§ 1311. Unclaimed moneys erroneously collected by utility corporations\non account of taxes. 1. Any amount held or owing by a gas corporation,\nan electric corporation, a gas and electric corporation, a district\nsteam corporation, a telegraph corporation, a telephone corporatio…

§ 1312. Unclaimed amounts or securities held by foreign corporations\nnot authorized to do business in the state of New York. 1. Any amounts\nor securities defined as abandoned property by articles three, four,\nfive, five-a, seven and sections thirteen hundred one, thirteen hun…

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

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

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

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

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

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

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

§ 1400. Statutes of limitations not a bar. The expiration of any\nperiod of time specified by law, during which an action or proceeding\nmay be commenced or enforced to secure payment of a claim for money or\nrecovery of property, shall not prevent any such money or property fro…

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

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