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2012 New York Consolidated Laws
ABP - Abandoned Property
Article 14 - (1400 - 1422) GENERAL PROVISIONS
1415 - Deduction of certain charges.


NY Aban Prop L § 1415 (2012) What's This?
 
    §  1415.  Deduction of certain charges. No deduction shall be made for
  service, handling or maintenance charges from property  subject  to  the
  abandoned  property  law,  by  the  holder of such property, unless such
  deduction is made pursuant to:
    (a)  the  laws  of  the  state  of  New  York  including  therein  the
  regulations of the New York state department of financial services; or
    (b)  a valid contract which provides, specifically, that the deduction
  shall not be refundable or otherwise restored to  the  owner;  and  such
  deduction is made in the normal course of business of the holder.

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