NY Aban Prop L § 700 (2021)
2021 New York Laws ABP - Abandoned Property Article 7 - Unclaimed Life Insurance Funds 700 - Unclaimed Life Insurance Corporation Moneys.

§  700.  Unclaimed life insurance corporation moneys. 1. The following unclaimed property held or owing by life insurance corporations shall be deemed abandoned property:  (a) Any moneys held or owing by any life insurance  corporation  which shall  have  remained unclaimed for three years by the person or persons appearing to be entitled thereto under matured life  insurance  policies on  the  endowment  plan  and  which  are  payable  to  any person whose last-known address, according to the  records  of  the  corporation,  is within this state.  (b)  Any  moneys held or owing by any life insurance corporation which are payable under other kinds of life insurance policies to  any  person whose  last-known  address, according to the records of the corporation, is within this state, where the insured, if living, would have  attained the  limiting  age  under  the mortality table on which the reserves are based, exclusive of  (i) any policy which has within three years been assigned, readjusted, kept in force by payment of premium, reinstated or subjected to loan, or  (ii) any policy with respect to which such  corporation  has  on  file written  evidence received within three years that the person or persons apparently entitled to claim thereunder have knowledge thereof.  (c) Any moneys held or owing by any life insurance corporation due  to beneficiaries  or  other  persons entitled thereto under policies on the lives of persons who have died where the last-known  address,  according to the records of the corporation, of the person or persons appearing to be  entitled  thereto  is  within  this  state,  which moneys shall have remained unclaimed by the person or persons entitled thereto  for  three years.  (d)  Any  other  moneys  which are held or owing by any life insurance corporation  on  or  after  July  first,  nineteen  hundred  sixty-seven constituting  or  representing  refunds  of  any  kind  due  upon  or in connection with life insurance policies payable to any person whose last known address, according to the records of the  corporation,  is  within this  state,  which  moneys  shall have remained unclaimed by the person entitled thereto for three years.  (e) Any moneys held or owing by any life insurance corporation  on  or after  July  first,  nineteen hundred eighty-three upon or in connection with an annuity contract payable to any person whose last-known address, according to the records of the corporation, is within this state, which moneys shall have remained unclaimed by the person entitled thereto  for three years.  (f) If no address of the person or persons appearing to be entitled to the  unclaimed  funds  pursuant  to  (a),  (b),  (c), (d) or (e) of this subdivision is known to such corporation, or if it is not  definite  and certain  from the records of such corporation what person is entitled to such funds, it shall be presumed that  the  last-known  address  of  the person  entitled  to such funds is the same as the last-known address of the insured or annuitant according to the records of  such  corporation. Where no address can be ascertained, pursuant to this paragraph, for the insured, annuitant or person or persons entitled to the unclaimed funds, such  person's  last-known  address  shall be presumed to be within this state if the unclaimed  funds  are  held  or  owing  by  life  insurance corporation organized under the laws of this state.   2.  Any  such  abandoned  property  held  or owing by a life insurance corporation to which the right to receive the same is established to the satisfaction of such corporation shall cease to be deemed abandoned.