New York § 1316 Unclaimed insurance proceeds other than life insurance

New York Statutes

§ 1316 — Unclaimed insurance proceeds other than life insurance

New York § 1316

Law ABPAbandoned Property

Art. 13Miscellaneous Unclaimed Property

This text of New York § 1316 (Unclaimed insurance proceeds other than life insurance) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Abandoned Property § 1316 (2026).

Text

§ 1316. Unclaimed insurance proceeds other than life insurance.

1.Any\namount issued and payable on or after July first, nineteen hundred\nseventy-four payable to a resident of this state on or because of a\npolicy of insurance other than life insurance, which is held or owing by\na domestic insurer or a foreign insurer authorized to do business in\nthis state or by an agent or agency of such insurer, shall be deemed\nabandoned property if unclaimed for three years by the person entitled\nthereto. Where such amount is held or owing by a domestic insurer for an\nunknown person or a person whose address is unknown, such amount is\npresumed to be payable to a resident of this state.\n 2. Every insurer shall cause to be published, on or before the first\nday of May in each year, a list of

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§ 1316. Unclaimed insurance proceeds other than life insurance. 1. Any\namount issued and payable on or after July first, nineteen hundred\nseventy-four payable to a resident of this state on or because of a\npolicy of insurance other than life insurance, which is held or owing by\na domestic insurer or a foreign insurer authorized to do business in\nthis state or by an agent or agency of such insurer, shall be deemed\nabandoned property if unclaimed for three years by the person entitled\nthereto. Where such amount is held or owing by a domestic insurer for an\nunknown person or a person whose address is unknown, such amount is\npresumed to be payable to a resident of this state.\n 2. Every insurer shall cause to be published, on or before the first\nday of May in each year, a list of such abandoned property in the same\nmanner as that prescribed for life insurance companies by section seven\nhundred two of this chapter.\n 3. Such property which was deemed abandoned pursuant to subdivision\none of this section shall be paid or delivered to the comptroller within\nthe first ten days of September of each year. Such payment shall be\naccompanied by a true and accurate report that shall be in such form and\nmanner as the state comptroller may prescribe.\n