N.Y. Abandoned Property Law § 1406: Claims for abandoned property heretofore or hereafter paid to the state

§ 1406. Claims for abandoned property heretofore or hereafter paid to

the state. 1. (a) Claim may be filed with the state comptroller for any

abandoned property amounting to over three dollars heretofore paid to

the state or hereafter paid or delivered to the state comptroller

pursuant to this chapter, except abandoned property heretofore paid to

the state pursuant to

(i) section nine of chapter six hundred fifty-one of the laws of

eighteen hundred ninety-two, section forty-four of chapter fifty-eight

of the laws of nineteen hundred nine or as such section was amended by

chapter two hundred seventeen of the laws of nineteen hundred

thirty-three and chapter two hundred thirty-one of the laws of nineteen

hundred thirty-eight, and section eighty-four of chapter five hundred

ninety-three of the laws of nineteen hundred forty;

(ii) section two hundred seventy-two of the surrogate's court act;

(iii) chapter eight hundred fifteen of the laws of nineteen hundred

forty-one as amended by chapter seven hundred eighty-eight of the laws

of nineteen hundred forty-two;

(iv) chapter one hundred seven of the laws of nineteen hundred

forty-two, if such abandoned property was less than one dollar in

amount;

(v) chapter seven hundred twenty-seven of the laws of nineteen hundred

twenty-six, or as such chapter was amended by chapter four hundred

fifty-six of the laws of nineteen hundred twenty-seven and section sixty

of chapter fifty-four of the laws of nineteen hundred twenty-nine, if so

paid prior to June first, nineteen hundred forty-one;

(vi) and abandoned property hereafter paid to the state comptroller

pursuant to subdivisions (a) or (b) of section six hundred one or

section twelve hundred twelve of this chapter.

(b) The comptroller shall possess full and complete authority to

determine all such claims and shall forthwith send written notice of

such determination to the claimant. At any time within four months

thereafter, such claimant may apply for a hearing and a redetermination

of his claim. After an appropriate hearing on notice, before the

comptroller or person duly designated by him, the comptroller shall make

and serve his final determination, which alone shall be reviewable by

application to the supreme court, Albany county, within four months

following the notice of such final determination, upon not less than ten

days' notice to the comptroller.

(c) The comptroller, or any person duly designated by him, is

empowered to take testimony and proofs, under oath, upon such hearing,

and shall have power to subpoena and require the attendance of witnesses

and the production of books, papers and documents pertinent to such

hearings.

(d) Whenever it shall be necessary for the state comptroller to

determine the validity of a claim for abandoned property heretofore paid

to the state pursuant to section five of the banking law or hereafter

paid to the state pursuant to section thirteen hundred of this chapter,

he shall forthwith notify the corporation which paid such abandoned

property to the state of such claim. Within thirty days after such

notification such corporation shall send a verified written report to

the state comptroller, containing such information as the state

comptroller may require from its books or records. The state comptroller

shall determine from such report the validity of such claim.

2. (a) Claim in the amount or value of ten thousand dollars or more

for any abandoned property heretofore paid to the state pursuant to

section forty-four of chapter fifty-eight of the laws of nineteen

hundred nine or as such section was amended by chapter two hundred

seventeen of the laws of nineteen hundred thirty-three and chapter two

hundred thirty-one of the laws of nineteen hundred thirty-eight, or

hereafter paid to the state comptroller pursuant to paragraph (a) of

subdivision one of section six hundred of this chapter, may be

established only on order of the court which had original jurisdiction

of the underlying matter, after service of notice upon the state

comptroller and upon due notice to all parties to the action or

proceeding which resulted in the monies being paid into court. Such

court withdrawal action shall be commenced in the court which had

original jurisdiction of the underlying matter using the court index

number of such original action. Notwithstanding any other provision of

law to the contrary, no such withdrawal action shall be brought as a

special proceeding against the state comptroller. Notwithstanding any

other provision of law to the contrary, if an order directing payment by

the state comptroller is made by the court, the claimant or the

claimant's attorney shall serve upon the state comptroller a copy

thereof, duly certified by the clerk of the court to be a true copy of

the original of such order on file in the clerk's office.

(b) Where the value or amount of the claim is less than ten thousand

dollars, payment may be made by the state comptroller on sworn

application of the claimant when the identity of the claimant as the

person entitled to payment is established to the satisfaction of the

state comptroller. When, in the determination of the state comptroller,

there is insufficient information to enable the state comptroller to

make a determination of entitlement, any claim, including a claim the

amount of which is less than ten thousand dollars, must be established

on order of the court as set forth in paragraph (a) of this subdivision.

The decision of the state comptroller that the information is

insufficient shall not be deemed a denial of the claim.

3. Claim for any abandoned property heretofore paid to the state

pursuant to section two thousand two hundred twenty-two of the

surrogate's court procedure act or hereafter paid to the state

comptroller pursuant to paragraph (b) of subdivision one of section six

hundred of this chapter may be established only in accordance with

section two thousand two hundred twenty-two of the surrogate's court

procedure act. Any other provision of law to the contrary

notwithstanding, if an order directing payment by the state comptroller

is made by the court, the claimant or the claimant's attorney shall

serve upon the state comptroller a copy thereof, duly certified by the

clerk of the court to be a true copy of the original of such order on

file in the clerk's office.

4. (a) Claim for any abandoned property heretofore paid to the state

pursuant to chapter eight hundred fifteen of the laws of nineteen

hundred forty-one as amended by chapter seven hundred eighty-eight of

the laws of nineteen hundred forty-two, or hereafter paid to the state

comptroller pursuant to section twelve hundred twelve of this chapter,

may be established only in accordance with this subdivision.

(b) Such claim may be established only by a person, copartnership,

unincorporated association or corporation who shall have had no actual

knowledge of the escheat proceeding and who shall commence a proceeding

in the supreme court within five years after the entry of the final

order of escheat, except that this limitation of time shall be extended

pursuant to the provisions of limitations of time for commencing actions

of the civil practice law and rules.

(c) Such proceeding shall be commenced by a verified petition and

notice of motion, which shall be served upon the comptroller, who shall

have twenty days within which to answer. The petition shall set forth

the true name, residence and business address, if any, of the claimant

and shall also set forth in full detail the basis of the claim and the

claimant's chain of title thereto.

(d) In such proceeding the presumptions set forth in section twelve

hundred one of this chapter shall apply.

(e) If the court, after hearing the testimony, shall find that such

claimant, or his predecessor in interest, would have been entitled to

any part of the escheated fund in the escheat proceeding, it shall enter

a final order directing the comptroller to pay to him from the abandoned

property fund an amount equal to that part of such escheated fund to

which he would have been so entitled, provided such amount shall have

been collected and received by the comptroller, without interest and

costs.

5. (a) Payment made by the comptroller upon presentation of

satisfactory proof of entitlement, on a claim made by either of two

depositors for the proceeds of a joint deposit or share account

originally established pursuant to section six hundred seventy-five of

the banking law, shall be a valid and sufficient release and discharge

to the comptroller for such payment made on account of such deposit or

share prior to the receipt by the comptroller of notice in writing

signed by any one of such depositors, not to pay such deposit or shares

and any additions or accruals thereon. After receipt of such notice, the

comptroller may require the receipt or acquittance of both such

depositors or shareholders for any payment.

(b) Payment by the comptroller on a claim for the proceeds of a

deposit account, including any additions or accruals thereon, originally

established pursuant to section 7-5.2 of the estates, powers and trusts

law or former subdivision two of section one hundred thirty-four of the

banking law, may be made to the beneficiary of such deposit account upon

presentation of satisfactory proof of entitlement. The receipt or

acquittance of such beneficiary shall be a valid and sufficient release

and discharge to the comptroller for the deposit account, or any part

thereof, for such payment prior to the receipt by the comptroller of

notice in writing that there exists a testamentary disposition

sufficient to dispose of such deposit account pursuant to said section

7-5.2 of the estates, powers and trusts law.

6. (a) Notwithstanding any other provision of law, claim for any

abandoned condemnation award heretofore or hereafter paid to the state

comptroller pursuant to sections ten hundred and ten hundred three of

this chapter for the benefit of unknown persons, or for the benefit of

known owners if claim is made by the holder of an equitable lien, may be

established only on order of the court which made the award after

service of notice upon the state comptroller. Any other provision of law

to the contrary notwithstanding, if an order directing payment by the

state comptroller is made by the court, the claimant or the claimant's

attorney shall serve upon the state comptroller a copy thereof, duly

certified by the clerk of the court to be a true copy of the original of

such order on file in the clerk's office.

(b) Notwithstanding any other provision of law, payment for any

abandoned condemnation award heretofore or hereafter paid to the state

comptroller pursuant to sections ten hundred and ten hundred three of

this chapter for the benefit of known persons may be made by the state

comptroller on sworn application, where the name and last known address

of the person or persons entitled to payment and any other identifying

information as appearing on the records of the court into which payment

was made is included in the report required to be filed pursuant to

section ten hundred three of this chapter and when the identity of the

claimant as the person entitled to payment is established to the

satisfaction of the state comptroller. When, in the determination of the

state comptroller, the identifying information included in the report is

insufficient to enable the state comptroller to make a determination of

entitlement, such claim must be established only on order of the court

as set forth in paragraph (a) of this subdivision.