{"data":{"id":"us-ny/n.y.-banking-law-680-l","jurisdiction":"us-ny","citation":"N.Y. Banking Law § 680-l","heading":"Term and termination","body":"§ 680-l. Term and termination. 1. Unless otherwise provided in the\naccount agreement, a special deposit terminates five years after the\ndate the special deposit was first funded.\n  2. Unless otherwise provided in the account agreement, if the bank\ncannot identify or locate a beneficiary entitled to payment when the\nspecial deposit is terminated, and a balance remains in the special\ndeposit, the bank shall pay the balance to the depositor or depositors\nas a beneficiary or beneficiaries.\n  3. A bank that pays the remaining balance as provided under\nsubdivision two of this section has no further obligation with respect\nto the special deposit.","path":["Banking Law","Article 13-F. Uniform Special Deposits Act"],"source_url":"https://legislation.nysenate.gov/api/3/laws/BNK/680-L","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"9e574b8e2cc9e85155bec4e530232c3a3ee4f9756b5b0dc2b1111a56b395bcba","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-banking-law-680-k","next":"us-ny/n.y.-banking-law-680-m"},"notice":"GroundRules: Original legal text. Not legal advice."}