N.Y. General Business Law § 554: Retention of forged, counterfeit or spurious documents or negotiable instruments permitted

§ 554. Retention of forged, counterfeit or spurious documents or

negotiable instruments permitted. Any bank, banker, transfer agent,

railroad, warehouseman or any other person charged with the issue,

reissue, transfer or payment of any of the documents hereinafter

described, in any spurious, counterfeit, forged, altered note, stock

certificate, bond, debenture, check, draft, warrant, traveler's check,

letter of credit, money order, warehouse receipt, negotiable bill of

lading, evidence of indebtedness, certificate of interest or

participation in any profit-sharing agreement, collateral-trust

certificate, preorganization certificate or subscription, transferable

share, investment contract, voting-trust certificate, certificate of

interest in property, tangible or intangible; instrument or document or

writing evidencing ownership of goods, wares, and merchandise; or

transferring or assigning any right, title, or interest in or to goods,

wares, and merchandise, or, in general, any instrument commonly known as

a "security," or any certificate of interest or participation in,

temporary or interim certificate for, receipt for, warrant, or right to

subscribe to or purchase any of the foregoing, is presented for payment

or transfer or for the purpose of obtaining possession of goods or any

property under or pursuant to the terms of such instrument, whether the

same is presented through any clearing house or otherwise, and whether

or not the owner, or purported owner or presentor of such instrument is

within or without the state of New York, may without civil or other

liability, retain such counterfeit, forged or spurious instrument or

document for the purpose of preserving the same, and return in lieu

thereof a photostatic copy with an affidavit setting forth the infirmity

in the original, and the name and address of the person in whose custody

such original remains; provided, however, that such act of retention

shall not in any way vary the effect or alter the property or civil

rights of any person in, to or by reason of such instrument or document

or anything done with or pursuant to the same; and provided further,

that such instrument shall be delivered within fourteen days to the

district attorney within whose jurisdiction the same is retained and

upon such surrender a receipt therefor shall be given to the custodian

thereof; and provided further, that such instrument shall be produced

for use in any court or by any public officer when required to do so

under proper notice, demand or subpoena. The right to require the

production of such document is hereby extended to all officers or courts

whether within the state of New York or elsewhere.