§ 600 — Unclaimed or unknown owner court funds

New York § 600

• Jurisdiction: New York
• Law ABP: Abandoned Property
• Art. 6: Unclaimed or Unknown Owner Court Funds

Text

§ 600. Unclaimed or unknown owner court funds. 1. The following\nunclaimed property shall be deemed abandoned property:\n (a) Any moneys including the monetary proceeds from the sale of\ntangible personal property and securities or other intangible property\npaid into court, which, except as provided in section ten hundred of\nthis chapter, shall have remained in the hands of any county treasurer,\nor the commissioner of finance of the city of New York, for three years,\ntogether with all accumulations of interest or other increment thereon,\nless such legal fees as he may be entitled to.\n (b) The monetary proceeds representing any legacy or distribution\nshare to which an unknown person is entitled, as specified in section\ntwo thousand two hundred twenty-two of the surrogate's court procedure\nact.\n 2. Any abandoned property held or owing by a county treasurer or the\ncommissioner of finance of the city of New York to which the right to\nreceive the same is established to the satisfaction of such county\ntreasurer or commissioner of finance of the city of New York shall cease\nto be abandoned.\n 3. Notwithstanding the provisions of this section, deposits made with\na county treasurer or the commissioner of finance of the city of New\nYork pursuant to order of a court, made subsequent to the second day of\nApril nineteen hundred fifty-two, for the benefit of a person who was an\ninfant at the time of the making of such order, shall not be subject to\nthe provisions of this chapter until such infant attains the age of\neighteen years.\n