N.Y. General Business Law § 164: Disposition of undelivered moneys

§ 164. Disposition of undelivered moneys. Every steamship company,

express company, or other company, to which moneys received for

transmission are returned for the reason that the same cannot be

delivered shall forthwith notify the transmitter thereof by mailing

written notice to such transmitter at his last known address. If such

money be unclaimed for a period of ninety days after such notice, such

company shall immediately turn over such money to the state comptroller

who shall maintain the same as a capital revolving fund for the purpose

of paying claimants thereof. After such moneys have remained unclaimed

in the hands of the comptroller for five years, the same shall escheat

to the state.