New York § 703 Payment of abandoned property

New York Statutes

§ 703 — Payment of abandoned property

New York § 703

Law ABPAbandoned Property

Art. 7Unclaimed Life Insurance Funds

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Bluebook

N.Y. Abandoned Property § 703 (2026).

Text

§ 703. Payment of abandoned property.

1.In such succeeding month of\nSeptember, and on or before the succeeding tenth day thereof, every such\nlife insurance corporation shall pay to the state comptroller all\nproperty which, as of the first day of January next preceding, was\ndeemed abandoned pursuant to section seven hundred of this article, held\nor owing by such life insurance corporation.\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 including:\n (a) the name and last known address of any person or persons appearing\nfrom the records of such life insurance corporation to be entitled to\nreceive any such abandoned property;\n (b) the amount appearing fr

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§ 703. Payment of abandoned property. 1. In such succeeding month of\nSeptember, and on or before the succeeding tenth day thereof, every such\nlife insurance corporation shall pay to the state comptroller all\nproperty which, as of the first day of January next preceding, was\ndeemed abandoned pursuant to section seven hundred of this article, held\nor owing by such life insurance corporation.\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 including:\n (a) the name and last known address of any person or persons appearing\nfrom the records of such life insurance corporation to be entitled to\nreceive any such abandoned property;\n (b) the amount appearing from the records of such corporation to be\ndue;\n (c) the policy number and policy age of the insured;\n (d) the date such abandoned property was payable;\n (e) the names and last known addresses of each beneficiary appearing\nin the records of the insurer; and\n (f) such other identifying information as the state comptroller may\nrequire.\n 3. Such report shall be in such form and the abandoned property listed\nshall be classified in such manner as the state comptroller may\nprescribe. Names of persons appearing to be entitled to such property or\nof beneficiaries appearing in such report shall be listed in\nalphabetical order within each such classification.\n