§ 1301 — Unclaimed surplus from sale of pledge

§ 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 back at a\nstipulated price, or\n (c) doing business as warehouse men and loaning or advancing money\nupon goods, wares or merchandise pledged or deposited as collateral\nsecurity.\n 2. Any surplus moneys resulting from a sale by a pledgee, other than a\nbanking organization, after the thirtieth day of June, nineteen hundred\nfifty of personal property after deducting the amount loaned or\nadvanced, interest due thereon and any other lawful charges, which\nsurplus moneys have remained unpaid to the person entitled thereto for\none year from the date of such sale, shall be deemed abandoned property.\n 3. Each year in the month of July and on or before the tenth day\nthereof every pledgee shall pay to the state comptroller all abandoned\nproperty specified in subdivision two of this section. Every such\npayment shall be accompanied by a verified written statement which shall\ncontain the name and last known address of the pledgor, the date of the\nsale, the number of the pledge, if receipt given to the pledgor is so\nidentified, and the amount of such surplus moneys.\n