N.Y. Abandoned Property Law § 512: Payment or delivery of abandoned property

§ 512. Payment or delivery of abandoned property. 1. In the month of

March of each year, and on or before the tenth day thereof, every broker

or dealer shall pay or deliver to the state comptroller all property

which on the preceding thirty-first day of December was deemed abandoned

property pursuant to section five hundred eleven excepting such property

as since that date has ceased to be abandoned.

2. Where any security delivered to the state comptroller pursuant to

subdivision one hereof, is delivered by him to the issuing corporation,

the security shall be transferred to him on the books of the corporation

and a certificate registered in the name of the state comptroller shall

be delivered to him. The corporation and its transfer agent, registrar

or other person acting for or on behalf of the corporation in executing

or delivering such certificate shall be relieved from liability to any

person for any losses or damages resulting from the issuance and

delivery to the state comptroller of such certificate.