§ 1422. Mailing of notice to owners of record.
1.Any holder of\nunclaimed funds which is not otherwise required to perform owner\nnotification mailings under the provisions of this chapter shall send,\nnot less than ninety days prior to the applicable reporting date for\nsuch unclaimed property, a written notice by first-class mail to each\nperson appearing to be the owner of property listed in a report of\nabandoned property required to be filed under the provisions of this\nchapter, at the address of the owner as it appears on the books and\nrecords of the holder; provided, however, that the foregoing\nrequirements shall not apply where (a) the holder does not have an\naddress for the owner; or (b) the holder can demonstrate that the only\naddress that the holder has pertaining to the
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§ 1422. Mailing of notice to owners of record. 1. Any holder of\nunclaimed funds which is not otherwise required to perform owner\nnotification mailings under the provisions of this chapter shall send,\nnot less than ninety days prior to the applicable reporting date for\nsuch unclaimed property, a written notice by first-class mail to each\nperson appearing to be the owner of property listed in a report of\nabandoned property required to be filed under the provisions of this\nchapter, at the address of the owner as it appears on the books and\nrecords of the holder; provided, however, that the foregoing\nrequirements shall not apply where (a) the holder does not have an\naddress for the owner; or (b) the holder can demonstrate that the only\naddress that the holder has pertaining to the owner is not the current\naddress of the owner.\n 2. Where notice is required by subdivision one of this section, each\nholder shall, with respect to property listed in such report whose value\nis in excess of one thousand dollars, send a second written notice to\nthe owner by certified mail, return receipt requested not less than\nsixty days prior to the applicable reporting date for such unclaimed\nproperty, provided that no notice pursuant to this subdivision shall be\nrequired where: (a) such holder has received a claim from the owner of\nthe property; or (b) the original mailing was returned as undeliverable.\n 3. The written notice required by this section shall advise the owner\nthat the property to which the owner appears to be entitled will be\nreported as abandoned property and will be remitted to the state\ncomptroller unless such property is claimed by an entitled party before\nthe required remittance date.\n 4. The failure of any holder of abandoned property to comply with the\nrequirements of this section shall not in any way affect the reporting\nof abandoned property pursuant to the provisions of this chapter.\n 5. Costs paid to the postal authorities by holders of unclaimed\nproperty to provide such written notice by certified mail, return\nreceipt requested, may be deducted from the property as a service\ncharge.\n