N.Y. General Business Law § 715: Disposition of unclaimed credit balances

§ 715. Disposition of unclaimed credit balances. In the event the

creditor, after due diligence, cannot locate a consumer to make a credit

balance refund pursuant to this article, such money shall be retained in

a separate trust account to be maintained by the creditor for such

purpose for a period of three years and thereafter shall be transferred

to the New York state department of audit and control to be held

pursuant to the provisions of the New York abandoned property law.