§ 1312 — Unclaimed amounts or securities held by foreign corporations not authorized to do business in the state of New York

§ 1312. Unclaimed amounts or securities held by foreign corporations\nnot authorized to do business in the state of New York. 1. Any amounts\nor securities defined as abandoned property by articles three, four,\nfive, five-a, seven and sections thirteen hundred one, thirteen hundred\nthirteen, thirteen hundred fifteen and thirteen hundred sixteen of this\nchapter, unclaimed for the periods of time prescribed in such articles\nand sections and held by any corporation, banking organization,\ninsurance company, broker or dealer, utility, joint stock association,\nindividual engaged in the conduct of business, association of two or\nmore individuals, committee, business trust or any other entity, whether\nprofit or non-for-profit, chartered or organized in another state or\nunder the laws of another state and not authorized to do business in the\nstate of New York, which are payable to or receivable by persons whose\nlast known addresses on the records of such corporations or enumerated\norganizations are located within the state of New York shall be deemed\nabandoned property.\n 2. Any such abandoned property held or owing by such a corporations or\norganizations to which the right to receive a refund of the same is\nestablished to the satisfaction of such corporations or organizations\nshall cease to be deemed abandoned.\n 3. Such abandoned property shall be paid or delivered to the state\ncomptroller on the same dates and in the same manner as presently\nprescribed for such property by this chapter, except that publication\notherwise required by this chapter shall not be applicable to property\ndeemed abandoned by virtue of this section.\n