N.Y. Abandoned Property Law § 1420: Property held by agricultural cooperative corporations

§ 1420. Property held by agricultural cooperative corporations. 1.

For the purposes of this section, "agricultural cooperative corporation"

shall include any corporation organized or qualified to do business in

this state pursuant to the cooperative corporations law, which is

operated primarily for the benefit of producers of agricultural

products, as such term is defined in subdivision (a) of section three of

the cooperative corporations law. Notwithstanding any other provision

of this chapter to the contrary, any share of stock, credit, dividend,

profit, patronage refund, distribution, interest, equity certificate,

equity retain, payment, or other money or property which:

(a) is in the possession of an agricultural cooperative corporation

organized or qualified to do business in this state pursuant to the

cooperative corporations law;

(b) evidences membership in or resulted from patronage with an

agricultural cooperative corporation or the predecessor of such

corporation; and

(c) is held for, allocated to the account of, allocated in the name of

or owing by the agricultural cooperative corporation to a member,

stockholder, patron or other person; shall not be deemed abandoned

property or otherwise subject to the provisions of this chapter.