§ 702 — Publication of list of abandoned property

§ 702. Publication of list of abandoned property. 1. Every such life\ninsurance corporation shall cause to be published, on or before the\nfirst day of May in each year, a notice entitled: "NOTICE OF NAMES OF\nPERSONS APPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY (name\nof life insurance corporation)."\n 2. Such notice shall be published once in at least one newspaper\npublished in the county of the state in which is located the last-known\naddress of the holder of a policy under which such abandoned property is\npayable. If there are no newspapers published in such county then such\nnotice shall be published in a newspaper published in an adjacent\ncounty. Such publication shall be in a newspaper printed in the English\nlanguage and any other newspaper that will substantially serve to inform\nthe public of said abandoned property. The comptroller shall promulgate\nrules to determine when it is appropriate to designate an additional\npublication.\n 3. Such notice shall set forth:\n (a) the names and last known addresses which were in such report, of\nall persons appearing to be entitled to any such abandoned property\namounting to fifty dollars or more; provided, however, that with the\nconsent of the state comptroller, the name and last known address of any\nperson may be omitted from such notice where special circumstances make\nit desirable that such information be withheld. Such names shall be\nlisted in alphabetical order;\n (b) such other information as the state comptroller may require; and\n (c) a statement\n (i) that a report of unclaimed amounts of money held or owing by it\nhas been made to the comptroller of the state of New York and that a\nlist of the names contained in such notice is on file and open to public\ninspection at the principal office or place of business of such life\ninsurance corporation in any city, village or county where any such\nabandoned property is payable;\n (ii) that such unclaimed moneys will be paid by it on or before the\nsucceeding thirty-first day of August to persons establishing to its\nsatisfaction their right to receive the same; and\n (iii) that in the succeeding month of September, and on or before the\ntenth day thereof, such unclaimed moneys still remaining will be paid to\nthe comptroller of the state of New York and that it shall thereupon\ncease to be liable therefor.\n 4. Such life insurance corporation shall file with the state\ncomptroller on or before the tenth day of May in each year proof by\naffidavit of such publication.\n