N.Y. Abandoned Property Law § 1421: Property held by rural electric cooperatives

§ 1421. Property held by rural electric cooperatives. 1. For the

purposes of this section, "rural electric cooperatives" shall include

any corporation organized or qualified to do business in this state

pursuant to the rural electric cooperative law.

2. 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 a rural electric cooperative organized or

qualified to do business in this state pursuant to the rural electric

cooperative law; or

(b) evidences membership in or resulted from patronage with a rural

electric cooperative or the predecessor of such cooperative; or

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

or owing by a rural electric cooperative to a member, stockholder,

patron or other person; shall not be deemed abandoned property or

otherwise subject to the provisions of this chapter.