§ 1311 — Unclaimed moneys erroneously collected by utility corporations on account of taxes

New York § 1311

• Jurisdiction: New York
• Law ABP: Abandoned Property
• Art. 13: Miscellaneous Unclaimed Property

Text

§ 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 corporation, a\ntelegraph and telephone corporation or a water works corporation which\nit has collected within eight years next preceding the effective date of\nthis section, or which it shall hereafter collect, from a consumer or\nsubscriber for or on account of any tax or assessment, or any part\nthereof, for which the consumer or subscriber was not legally liable,\nless lawful deductions, which shall have remained unclaimed by the\nperson or persons entitled thereto for one year from the date it was so\ncollected, shall be deemed abandoned property.\n 2. Any such abandoned property held or owing by such a corporation to\nwhich the right to receive a refund of the same is established to the\nsatisfaction of such corporation shall cease to be deemed abandoned.\n 3. On or before the tenth day of October in each year, every such\ncorporation shall pay to the state comptroller all property which, as of\nthe first day of July next preceding, was deemed abandoned pursuant to\nthis section, held or owing by such corporation. Such payment shall be\naccompanied by a true and accurate report containing such identifying\ninformation as the state comptroller may require.\n