§ 30 — Unclaimed amounts; deposit by superintendent in trust; preference; release of debtor

§ 30. Unclaimed amounts; deposit by superintendent in trust;\npreference; release of debtor. 1. After the completion of the voluntary\nor involuntary liquidation of the business and property of any banking\norganization or of the business and property in this state of any\nforeign banking corporation, the superintendent may take and hold as\ntrustee for the owners thereof any amounts which remain due to and\nunclaimed by any creditor, depositor, stockholder, shareholder, bailor\nor depositor of property for hire or otherwise, or lessee of any safe,\nvault or box. Whenever such amounts are received by the superintendent\nand he is not in possession of the business and property of such banking\norganization or corporation, he shall give his receipt for such amounts\nand shall forthwith deposit them in one or more banks, trust companies,\nor savings banks, to the credit of the superintendent of financial\nservices in trust for the persons entitled thereto. In a liquidation by\nthe superintendent he shall deposit such amounts in like manner at the\ntimes provided in article thirteen of this chapter.\n 2. All such deposits by the superintendent shall be entitled to\npriority of payment in case of the insolvency or voluntary or\ninvoluntary liquidation of the depositary on an equality with any other\npriority given by this chapter.\n 3. The superintendent shall before the close of each fiscal year pay\ninto the state treasury all interest received by him on such unclaimed\namounts since the last such payment.\n 4. Any banking organization or foreign banking corporation with\nrespect to which the superintendent has received unclaimed amounts as\ntrustee for the owners thereof pursuant to the provisions of this\nsection shall, from and after the date when such amounts are so\nreceived, be relieved and held harmless from any and all liability for\nany claim or claims which exist at such time with respect to such\nunclaimed amounts, or which may thereafter be made or may come into\nexistence on account of or in respect of any such unclaimed amounts, and\nno action shall be maintained against such banking organization or\ncorporation or any officer, partner, agent, employee, attorney,\nshareholder or stockholder thereof for the recovery of any such\nunclaimed amounts, or for interest thereon subsequent to the date of\nreceipt by the superintendent or for damages alleged to have resulted\nfrom the payment thereof to the superintendent.\n