NY Aban Prop L § 1309 (2021)
2021 New York Laws ABP - Abandoned Property Article 13 - Miscellaneous Unclaimed Property 1309 - Uncashed Travelers Checks and Money Orders.

§  1309.  Uncashed  travelers  checks and money orders.  1. Any amount held or owing by any organization other than a banking organization  for the  payment of a travelers check on which such organization is directly liable, sold by such organization on or after  January  first,  nineteen hundred  thirty,  shall  be  deemed abandoned property if such amount is held or owing for payment of a travelers check  which  shall  have  been outstanding for more than fifteen years from the date of its sale and  (a)  the  last  known address of the person entitled to such amount as shown on the books and records of such organization  is  located  within this state, or  (b)  such  organization  is  incorporated  in this state and such last known address is not shown on the books and records of such organization and the books and records of such organization do not disclose the place of sale of the travelers check, or  (c) such organization is incorporated in  this  state  and  such  last known  address  or place of sale is located in a state the laws of which do not provide for the escheat or custodial taking of such amount, or  (d) such organization is incorporated in  this  state  or  in  another state or foreign country and such last known address is not shown on the books  and  records  of  such  organization  and  such books and records disclose that the place of sale of  the  travelers  check  was  in  this state.   Payment  to  the  state  comptroller pursuant to paragraph (b) of this subdivision shall be subject to the right of any other state,  the  laws of  which  provide  for  escheat  or custodial taking of such amount, to recover such amount upon proof that the last known address of the person entitled thereto or place of sale of the travelers check was within that other state's borders.   Payment to the state comptroller pursuant to  paragraph  (c)  of  this subdivision  shall  be  subject  to the right of the state of last known address to recover such amount if and when the law of the state of  such last  known  address  makes provision for escheat or custodial taking of such amount.   2. Any amount held or owing by any such organization for  the  payment of  a  money order, or for the payment of any instrument drawn or issued to effect the payment therefor, sold by such organization  on  or  after January  first,  nineteen  hundred  thirty  shall  be  deemed  abandoned property when such amount has remained unpaid  to  the  person  entitled thereto for five years and  (a)  the  last known address of such entitled person, according to the records of such organization is located within this state, or  (b) such organization is incorporated in  this  state  and  such  last known  address  cannot be obtained from the records of such organization and the records of such organization do not disclose the place  of  sale of the money order or instrument, or  (c)  such  organization  is  incorporated  in this state and such last known address is located in a state not having in effect a statute under which such amount is payable to such state as  unclaimed,  abandoned  or escheated property, or  (d)  such  organization is incorporated in this state or another state or foreign country and such last known  address  is  not  shown  on  the records  of  such organization and such records disclosed that the place of sale of the money order or instrument was in this state.   Payment to the state comptroller pursuant to  paragraph  (b)  of  this subdivision  shall  be subject to the right of any other state, the laws of which provide for escheat or custodial  taking  of  such  amount,  to recover such amount upon proof that the last known address of the person  entitled  thereto  or place of sale of the money order or instrument was within that other state's borders.   Payment  to  the  state  comptroller pursuant to paragraph (c) of this subdivision shall be subject to the right of the  state  of  last  known address  to recover such amount if and when the law of the state of such last known address makes provision for escheat or  custodial  taking  of such amount.   3. On or before the first day of June in each year commencing with the year  nineteen  hundred  forty-nine every such organization shall pay to the state comptroller all property deemed  abandoned  pursuant  to  this section.  Such payment shall be accompanied by a statement setting forth such information as the state comptroller may require.   4. Notwithstanding any other provision of law, the rights of a  holder of   a  travelers  check  or  money  order  to  payment  from  any  such organization shall be in no  wise  affected,  impaired  or  enlarged  by reason  of the provisions of this section or by reason of the payment to the state comptroller of abandoned  property  hereunder,  and  any  such organization  which has paid to the state comptroller abandoned property held or owing for the payment of a travelers check or money order shall, upon making payment to the person appearing to its  satisfaction  to  be entitled  thereto  and upon submitting to the state comptroller proof of such payment and the identifying number of the travelers check or  money order  so  paid,  be  entitled  to  claim  reimbursement  from the state comptroller of the amount so paid, and after audit the state comptroller shall pay the same.