§ 512 — Payment or delivery of abandoned property

§ 512. Payment or delivery of abandoned property. 1. In the month of\nMarch of each year, and on or before the tenth day thereof, every broker\nor dealer shall pay or deliver to the state comptroller all property\nwhich on the preceding thirty-first day of December was deemed abandoned\nproperty pursuant to section five hundred eleven excepting such property\nas since that date has ceased to be abandoned.\n 2. Where any security delivered to the state comptroller pursuant to\nsubdivision one hereof, is delivered by him to the issuing corporation,\nthe security shall be transferred to him on the books of the corporation\nand a certificate registered in the name of the state comptroller shall\nbe delivered to him. The corporation and its transfer agent, registrar\nor other person acting for or on behalf of the corporation in executing\nor delivering such certificate shall be relieved from liability to any\nperson for any losses or damages resulting from the issuance and\ndelivery to the state comptroller of such certificate.\n