§ 2224 — Id

New York § 2224

• Jurisdiction: New York
• Law SCP: Surrogate's Court Procedure
• Art. 22: Accounting

Text

§ 2224. Id.; where beneficiary's name or whereabouts is unknown\n 1. Where it appears to the satisfaction of the court that the name or\nwhereabouts of any person interested in the estate as a beneficiary or\nassignee cannot be ascertained after the exercise of due diligence and\nthat the value of such person's interest in the estate does not exceed\nthe sum of $1,000, the court may direct by order or decree the fiduciary\nto pay the amount of such person's interest into the court for the\nbenefit of the person or persons who may thereafter appear to be\nentitled thereto.\n 2. Upon making the payment as provided above the fiduciary shall be\ndischarged from all futher liability as to the amount paid into court.\nThe order or decree may be granted on the petition of a fiduciary.\n 3. Notice of the application therefor shall be given to the persons\nand in the manner directed by the court or the court may dispense\ntherewith.\n 4. The money so paid into court as above provided may be paid out\nonly by the order of the court or pursuant to an order or judgment of a\ncourt of competent jurisdiction.\n 5. Except in the counties wholly within the city of New York, if the\namount payable does not exceed $50 a county treasurer may pay it without\na court order to the person entitled thereto.\n