§ 302 — Publication of list of abandoned property

New York § 302

• Jurisdiction: New York
• Law ABP: Abandoned Property
• Art. 3: Unclaimed Property Held or Owing By Banking Organizations

Text

§ 302. Publication of list of abandoned property. 1. Every banking\norganization shall cause to be published, on or before the first day of\nSeptember in each year, a notice entitled: "NOTICE OF NAMES OF PERSONS\nAPPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY (name of\nbanking organization)."\n 2. Such notice shall be published once in at least one newspaper\npublished in the city or village where such abandoned property is\npayable, provided, however, that if such abandoned property is payable\nin the city of New York, such publication shall be in a newspaper\npublished in the county where such abandoned property is payable. If\nthere are no newspapers published in such city or village, then such\npublication shall be in a newspaper published in the county where such\nabandoned property is payable. If there are no newspapers published in\nsuch county publication shall be 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 such 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. If, however, such banking organization has\nreported abandoned property payable in more than one city or village or,\nin the case of the city of New York, more than one county, the names\nshall be listed alphabetically for each such city, village or county and\nsuch notice shall include only the names of the persons appearing to be\nentitled to abandoned property payable in such city, village or county;\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 or other property held\nor owing by it has been made to the state comptroller and that a list of\nthe names contained in such notice is on file and open to public\ninspection at the principal office or place of business of such banking\norganization in any city, village or county where any such abandoned\nproperty is payable;\n (ii) that such unclaimed moneys or other property will be paid or\ndelivered by it on or before the succeeding thirty-first day of October\nto persons establishing to its satisfaction their right to receive the\nsame; and\n (iii) that in the succeeding month of November, and on or before the\ntenth day thereof, such unclaimed moneys or other property still\nremaining will be paid or delivered to the state comptroller and that it\nshall thereupon cease to be liable therefor.\n 4. Such banking organization shall file with the state comptroller on\nor before the tenth day of September in each year proof by affidavit of\nsuch publication.\n