N.Y. Abandoned Property Law § 1315: Miscellaneous unclaimed property

§ 1315. Miscellaneous unclaimed property. This section shall encompass

the following miscellaneous unclaimed property not otherwise covered by

any other section of law. Such property shall be paid or delivered to

the state comptroller at such times and shall be accompanied by reports

in such form as the state comptroller may prescribe. 1. Any unclaimed

amount representing unredeemed gift certificates sold after December

thirty-first, nineteen hundred eighty-three, including gift certificates

for merchandise only in which case the face value of such certificate

shall be deemed the amount deemed abandoned, and owing in this state, or

held by any corporation (other than a public corporation), joint stock

company, individual, association of two or more individuals, committee

or business trust in this state, and which has remained unclaimed by the

owner of such amount for five years, shall be deemed abandoned property.

1-a. Any amount representing outstanding checks issued on and after

July first, nineteen hundred seventy-four in payment for goods or for

services, and owing in this state, or held by any corporation (other

than a public corporation), joint stock company, individual, association

of two or more individuals, committee or business trust in this state,

and which has remained unclaimed by the owner of such amount for three

years, shall be deemed abandoned property.

1-b. Any unclaimed amount for services not rendered or for goods not

delivered, which amount was received after July first, nineteen hundred

seventy-four, or in the case of a public utility company as that term is

defined in subdivision twenty-three of section two of the public service

law, on or after July first, nineteen hundred eighty which has remained

unclaimed by the owner of such amount for three years, shall be deemed

abandoned property.

2. Except as otherwise provided by law, any amount representing

unclaimed money or securities and held in escrow or otherwise by any

corporation (other than a public corporation), joint stock company,

individual, association of two or more individuals, committee or

business trust, to ensure the performance of any duty or obligation,

shall be deemed abandoned property when:

a. such amount is held or owing in this state, and

b. such amount has remained unclaimed by the person or persons

entitled thereto for three years, except

c. where the duty or obligation for which such amount was deposited

has not been performed and such performance is still required, such

amounts shall not be deemed abandoned property.

3. Any amount representing an unpaid lottery prize determined by the

division of the lottery pursuant to section sixteen hundred fourteen of

the tax law to have been abandoned shall be deemed abandoned property

and shall be paid to the state comptroller.

4. Any amount representing an unpaid check or draft issued by the

state of New York which shall have remained unpaid after one year from

the date of issuance or a debit card issued on behalf of the state of

New York for the purpose of paying a tax refund which shall not have

been activated for one year from the date of issuance in accordance with

section one hundred two of the state finance law shall be deemed

abandoned property and shall be paid to the state comptroller.