N.Y. Abandoned Property Law § 303: Payment of abandoned property

§ 303. Payment of abandoned property. 1. In such succeeding month of

November, and on or before the tenth day thereof, every banking

organization shall pay or deliver to the state comptroller all property

which, as of the thirtieth day of June next preceding, was deemed

abandoned pursuant to section three hundred of this article, held or

owing by such banking organization.

2. Such payment shall be accompanied by a true and accurate report

setting forth such information as the state comptroller may require

relative to such abandoned property. Such report shall include:

(a) with respect to amounts specified in paragraph (a) of subdivision

one of section three hundred which are abandoned property:

(i) the name and last known address of the person or persons appearing

from the records of such banking organization to be the owner of any

such abandoned property;

(ii) the amount appearing from such records to be due such person or

persons;

(iii) the date of the last transaction with respect to such abandoned

property;

(iv) the nature and identifying number, if any, of such abandoned

property; and

(v) such other identifying information as the state comptroller may

require.

(b) with respect to amounts specified in paragraph (b) of subdivision

one of section three hundred of this article which are abandoned

property:

(i) the name and last known address, if any, of the person or persons

appearing from the records of such banking organization to be entitled

to receive such abandoned property;

(ii) the amount appearing from such records to be due such person or

persons;

(iii) the amount of any interest or other increment due thereon;

(iv) the date of the last transaction with respect to such abandoned

property; and

(v) such other identifying information as the state comptroller may

require.

(c) with respect to amounts specified in paragraph (c) of subdivision

one of section three hundred of this article which are abandoned

property:

(i) the name and last known address, if any, of the person or persons

appearing from the records of such banking organization to be entitled

to receive such abandoned property;

(ii) a description of such abandoned property including identifying

numbers, if any, and the amount appearing from such records to be due or

payable;

(iii) the amount of any interest or other increment due thereon;

(iv) the date such abandoned property was payable or demandable;

(v) the amount and identifying number of any such instrument where the

payee thereof is unknown to the banking organization; and

(vi) such other identifying information as the state comptroller may

require.

(d) with respect to amounts specified in paragraph (d) of subdivision

one of section three hundred of this article which are abandoned

property:

(i) the name and last known address, if any, of the person or persons

appearing from the records of such banking organization to be the owner

of any such abandoned property; and

(ii) such other information as the state comptroller may reasonably

require.

3. Such report shall be in such form as the state comptroller may

prescribe. All names of persons appearing in the section of such report

relating to deposits, appearing to be the owners thereof, shall be

listed in alphabetical order. Abandoned property other than deposits

listed in such report shall be classified in such manner as the state

comptroller may prescribe, and names of persons appearing to be entitled

to such abandoned property appearing in such report shall be listed

alphabetically within each such classification.

4. No banking organization in this state, organized under or subject

to the provisions of section six hundred eleven of title twelve of the

United States code, shall be required to file reports of abandoned

property relating to any amounts received on or before the thirtieth day

of June, nineteen hundred seventy-seven, unless, as of the effective

date of this subdivision, such amounts remain recorded and shown in the

books and records of such banking organization as an outstanding

obligation thereof.