2006 New York Code - Miscellaneous Unclaimed Property.


 
    §   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  reports  in  such  form  as  the  state comptroller may
  prescribe. 1. Any amount representing outstanding checks issued  on  and
  after  July first, nineteen hundred seventy-four in payment for goods or
  for services and any unclaimed amount for services not rendered  or  for
  goods  not  delivered,  which  amount  was  received  after  July first,
  nineteen hundred seventy-four, or  in  the  case  of  a  public  utility
  company  as  that term is defined in subdivision twenty-three of section
  two of the public service law, on or after July first, nineteen  hundred
  eighty,   and   any   unclaimed   amount  representing  unredeemed  gift
  certificates  sold  after  December   thirty-first,   nineteen   hundred
  eighty-three,  including gift certificates for merchandise only in which
  case the face value of such  certificate  shall  be  deemed  the  amount
  deemed  abandoned,  and  owing in this state, or held by any corporation
  (other than a public  corporation),  joint  stock  company,  individual,
  association  of  two or more individuals, committee or business trust in
  this state, and which has remained unclaimed by the owner of such amount
  for five years, shall be deemed abandoned property.
    2. Except as  otherwise  provided  by  law,  any  amount  representing
  unclaimed  money  or  securities  and held in escrow or otherwise by any
  corporation (other than a  public  corporation),  joint  stock  company,
  individual,  association  of  two  or  more  individuals,  committee  or
  business trust, to ensure the performance of  any  duty  or  obligation,
  shall be deemed abandoned property when:
    a. such amount is held or owing in this state, and
    b.  such  amount  has  remained  unclaimed  by  the  person or persons
  entitled thereto for five years, except
    c. where the duty or obligation for which such  amount  was  deposited
  has  not  been  performed  and  such performance is still required, such
  amounts shall not be deemed abandoned property.
    3. Any amount representing an unpaid lottery prize determined  by  the
  division  of the lottery pursuant to section sixteen hundred fourteen of
  the tax law to have been abandoned shall be  deemed  abandoned  property
  and shall be paid to the state comptroller.
    4.  Any  amount  representing  an  unpaid check or draft issued by the
  state of New York which shall have remained unpaid after one  year  from
  the  date  of issuance in accordance with section one hundred two of the
  state finance law shall be deemed abandoned property and shall  be  paid
  to the state comptroller.


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