§ 1315 — Miscellaneous unclaimed property

New York § 1315

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

Text

§ 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 reports\nin such form as the state comptroller may prescribe. 1. Any unclaimed\namount representing unredeemed gift certificates sold after December\nthirty-first, nineteen hundred eighty-three, including gift certificates\nfor merchandise only in which case the face value of such certificate\nshall be deemed the amount deemed abandoned, and owing in this state, or\nheld by any corporation (other than a public corporation), joint stock\ncompany, individual, association of two or more individuals, committee\nor business trust in this state, and which has remained unclaimed by the\nowner of such amount for five years, shall be deemed abandoned property.\n 1-a. Any amount representing outstanding checks issued on and after\nJuly first, nineteen hundred seventy-four in payment for goods or for\nservices, and owing in this state, or held by any corporation (other\nthan a public corporation), joint stock company, individual, association\nof two or more individuals, committee or business trust in this state,\nand which has remained unclaimed by the owner of such amount for three\nyears, shall be deemed abandoned property.\n 1-b. Any unclaimed amount for services not rendered or for goods not\ndelivered, which amount was received after July first, nineteen hundred\nseventy-four, or in the case of a public utility company as that term is\ndefined in subdivision twenty-three of section two of the public service\nlaw, on or after July first, nineteen hundred eighty which has remained\nunclaimed by the owner of such amount for three years, shall be deemed\nabandoned property.\n 2. Except as otherwise provided by law, any amount representing\nunclaimed money or securities and held in escrow or otherwise by any\ncorporation (other than a public corporation), joint stock company,\nindividual, association of two or more individuals, committee or\nbusiness trust, to ensure the performance of any duty or obligation,\nshall be deemed abandoned property when:\n a. such amount is held or owing in this state, and\n b. such amount has remained unclaimed by the person or persons\nentitled thereto for three years, except\n c. where the duty or obligation for which such amount was deposited\nhas not been performed and such performance is still required, such\namounts shall not be deemed abandoned property.\n 3. Any amount representing an unpaid lottery prize determined by the\ndivision of the lottery pursuant to section sixteen hundred fourteen of\nthe tax law to have been abandoned shall be deemed abandoned property\nand shall be paid to the state comptroller.\n 4. Any amount representing an unpaid check or draft issued by the\nstate of New York which shall have remained unpaid after one year from\nthe date of issuance or a debit card issued on behalf of the state of\nNew York for the purpose of paying a tax refund which shall not have\nbeen activated for one year from the date of issuance in accordance with\nsection one hundred two of the state finance law shall be deemed\nabandoned property and shall be paid to the state comptroller.\n