§ 1404 — Assumption of liability by the state; return of property erroneously paid to state comptroller

§ 1404. Assumption of liability by the state; return of property\nerroneously paid to state comptroller. 1. The care and custody, subject\nonly to the duty of conversion prescribed in section fourteen hundred\ntwo of this chapter, of all abandoned property heretofore paid to the\nstate, except\n (i) abandoned property in individual amounts of less than one dollar\nso paid pursuant to chapter one hundred seven of the laws of nineteen\nhundred forty-two; and of all abandoned property paid to the state\ncomptroller pursuant to this chapter;\n (ii) abandoned property so paid pursuant to chapter seven hundred\ntwenty-seven of the laws of nineteen hundred twenty-six, or as such\nchapter was amended by chapter five hundred sixty-nine of the laws of\nnineteen hundred twenty-seven, and section sixty of chapter fifty-four\nof the laws of nineteen hundred twenty-nine, prior to June first,\nnineteen hundred forty-one; is hereby assumed for the benefit of those\nentitled to receive the same, and the state shall hold itself\nresponsible for the payment of all claims established thereto pursuant\nto law, less any lawful deductions, which cannot be paid from the\nabandoned property fund.\n 2. Any person, copartnership, unincorporated association or\ncorporation making a payment of or delivering abandoned property to the\ncomptroller shall immediately and thereafter be relieved and held\nharmless from any or all liability for any claim or claims which exist\nat such time with reference to such abandoned property or which may\nthereafter be made or may come into existence on account of or in\nrespect of any such abandoned property.\n 3. No action shall be maintained against any person, copartnership,\nunincorporated association or corporation, or any officer thereof, for\n (a) the recovery of abandoned property paid or delivered to the state\ncomptroller pursuant to this chapter or for interest thereon subsequent\nto the date of the report of such abandoned property to the state\ncomptroller pursuant to this chapter;\n (b) the recovery of abandoned property heretofore paid or delivered\nto the state or for interest thereon subsequent to the date of such\npayment or delivery; or\n (c) damages alleged to have resulted from any such payment or\ndelivery.\n 4. Whenever it appears to the satisfaction of the state comptroller\nthat because of some mistake of fact, error in calculation or erroneous\ninterpretation of a statute, any person has paid or delivered to the\nstate comptroller, pursuant to any provision of this chapter, any moneys\nor other property not required by the provisions of this chapter to be\nso paid or delivered, he shall have power, during the six years\nimmediately succeeding such erroneous payment or delivery, to refund or\nredeliver such moneys or other property to such person; provided that\nsuch moneys or property shall not have been paid or delivered to a\nclaimant or otherwise disposed of in accordance with the provisions of\nthis article. Moneys or other property deposited with a county\ntreasurer or the commissioner of finance of the city of New York for\nthe benefit of an infant pursuant to court order, which are or have been\nerroneously paid or delivered to the state comptroller, may be refunded\nby the state comptroller at any time. Any such refund hereunder shall be\npaid from the abandoned property fund without the deduction of any\nservice charge.\n 5. Whenever, because of some mistake of fact, error in calculation or\nerroneous interpretation of a statute, any person pays or delivers to\nthe state comptroller any moneys or other property not required by the\nprovisions of this chapter to be so paid or delivered, such moneys or\nother property shall, for the purposes of this article, be deemed to be\nabandoned property, unless and until refunded or redelivered by the\nstate comptroller to the person who paid or delivered the same to him.\n