§ 303 — Payment of abandoned property

§ 303. Payment of abandoned property. 1. In such succeeding month of\nNovember, and on or before the tenth day thereof, every banking\norganization shall pay or deliver to the state comptroller all property\nwhich, as of the thirtieth day of June next preceding, was deemed\nabandoned pursuant to section three hundred of this article, held or\nowing by such banking organization.\n 2. Such payment shall be accompanied by a true and accurate report\nsetting forth such information as the state comptroller may require\nrelative to such abandoned property. Such report shall include:\n (a) with respect to amounts specified in paragraph (a) of subdivision\none of section three hundred which are abandoned property:\n (i) the name and last known address of the person or persons appearing\nfrom the records of such banking organization to be the owner of any\nsuch abandoned property;\n (ii) the amount appearing from such records to be due such person or\npersons;\n (iii) the date of the last transaction with respect to such abandoned\nproperty;\n (iv) the nature and identifying number, if any, of such abandoned\nproperty; and\n (v) such other identifying information as the state comptroller may\nrequire.\n (b) with respect to amounts specified in paragraph (b) of subdivision\none of section three hundred of this article which are abandoned\nproperty:\n (i) the name and last known address, if any, of the person or persons\nappearing from the records of such banking organization to be entitled\nto receive such abandoned property;\n (ii) the amount appearing from such records to be due such person or\npersons;\n (iii) the amount of any interest or other increment due thereon;\n (iv) the date of the last transaction with respect to such abandoned\nproperty; and\n (v) such other identifying information as the state comptroller may\nrequire.\n (c) with respect to amounts specified in paragraph (c) of subdivision\none of section three hundred of this article which are abandoned\nproperty:\n (i) the name and last known address, if any, of the person or persons\nappearing from the records of such banking organization to be entitled\nto receive such abandoned property;\n (ii) a description of such abandoned property including identifying\nnumbers, if any, and the amount appearing from such records to be due or\npayable;\n (iii) the amount of any interest or other increment due thereon;\n (iv) the date such abandoned property was payable or demandable;\n (v) the amount and identifying number of any such instrument where the\npayee thereof is unknown to the banking organization; and\n (vi) such other identifying information as the state comptroller may\nrequire.\n (d) with respect to amounts specified in paragraph (d) of subdivision\none of section three hundred of this article which are abandoned\nproperty:\n (i) the name and last known address, if any, of the person or persons\nappearing from the records of such banking organization to be the owner\nof any such abandoned property; and\n (ii) such other information as the state comptroller may reasonably\nrequire.\n 3. Such report shall be in such form as the state comptroller may\nprescribe. All names of persons appearing in the section of such report\nrelating to deposits, appearing to be the owners thereof, shall be\nlisted in alphabetical order. Abandoned property other than deposits\nlisted in such report shall be classified in such manner as the state\ncomptroller may prescribe, and names of persons appearing to be entitled\nto such abandoned property appearing in such report shall be listed\nalphabetically within each such classification.\n 4. No banking organization in this state, organized under or subject\nto the provisions of section six hundred eleven of title twelve of the\nUnited States code, shall be required to file reports of abandoned\nproperty relating to any amounts received on or before the thirtieth day\nof June, nineteen hundred seventy-seven, unless, as of the effective\ndate of this subdivision, such amounts remain recorded and shown in the\nbooks and records of such banking organization as an outstanding\nobligation thereof.\n