§ 1417 — Agreements with other states

New York § 1417

• Jurisdiction: New York
• Law ABP: Abandoned Property
• Art. 14: General Provisions

Text

§ 1417. Agreements with other states. 1. The state comptroller is\nauthorized to enter into reciprocal agreements with appropriate officers\nor agencies of other states to effectuate the purposes of this chapter.\n 2. Reciprocal agreements entered into pursuant to this section may\ninclude within their terms:\n (a) agreement to receive and distribute abandoned property between\nagreeing states, in accordance with existing law, and the manner of such\ndistribution;\n (b) agreements for cooperation between agreeing states, including the\nexchange of information and data and use of personnel, in performing\naudits and other functions relating to securing compliance with this\nchapter and the applicable statutes of the agreeing states by holders of\nunclaimed property.\n 3. (a) For purposes of this section the term "states" shall mean those\nstates, the district of Columbia and the commonwealth of Puerto Rico,\nwhich have enacted laws relating to the disposition of unclaimed\nproperty and such laws require that the property be held thereby in\ncustody subject to claim by the person or persons entitled thereto at\nany time.\n (b) For purposes of this section the phrase "existing law" shall\ninclude within its meaning decisions of the supreme court of the United\nStates.\n 4. No reciprocal agreement made pursuant to the provisions of this\nsection shall become effective until approved as to form by the attorney\ngeneral (of each agreeing state).\n