2023 New York Laws › ABP - Abandoned Property › Article 3 - Unclaimed Property Held or Owing by Banking Organizations › 303 - Payment of Abandoned Property.

§  303.  Payment of abandoned property. 1. In such succeeding month of
November, and  on  or  before  the  tenth  day  thereof,  every  banking
organization  shall pay or deliver to the state comptroller all property
which, as of the thirtieth  day  of  June  next  preceding,  was  deemed
abandoned  pursuant  to  section  three hundred of this article, held or
owing by such banking organization.
2. Such payment shall be accompanied by a  true  and  accurate  report
setting  forth  such  information  as  the state comptroller may require
relative to such abandoned property. Such report shall include:
(a) with respect to amounts specified in paragraph (a) of  subdivision
one of section three hundred which are abandoned property:
(i) the name and last known address of the person or persons appearing
from  the  records  of  such banking organization to be the owner of any
such abandoned property;
(ii) the amount appearing from such records to be due such  person  or
persons;
(iii)  the date of the last transaction with respect to such abandoned
property;
(iv) the nature and identifying number,  if  any,  of  such  abandoned
property; and
(v)  such  other  identifying information as the state comptroller may
require.
(b) with respect to amounts specified in paragraph (b) of  subdivision
one  of  section  three  hundred  of  this  article  which are abandoned
property:
(i) the name and last known address, if any, of the person or  persons
appearing  from  the records of such banking organization to be entitled
to receive such abandoned property;
(ii) the amount appearing from such records to be due such  person  or
persons;
(iii) the amount of any interest or other increment due thereon;
(iv)  the  date of the last transaction with respect to such abandoned
property; and
(v) such other identifying information as the  state  comptroller  may
require.
(c)  with respect to amounts specified in paragraph (c) of subdivision
one of section  three  hundred  of  this  article  which  are  abandoned
property:
(i)  the name and last known address, if any, of the person or persons
appearing from the records of such banking organization to  be  entitled
to receive such abandoned property;
(ii)  a  description  of such abandoned property including identifying
numbers, if any, and the amount appearing from such records to be due or
payable;
(iii) the amount of any interest or other increment due thereon;
(iv) the date such abandoned property was payable or demandable;
(v) the amount and identifying number of any such instrument where the
payee thereof is unknown to the banking organization; and
(vi) such other identifying information as the state  comptroller  may
require.
(d)  with respect to amounts specified in paragraph (d) of subdivision
one of section  three  hundred  of  this  article  which  are  abandoned
property:
(i)  the name and last known address, if any, of the person or persons
appearing from the records of such banking organization to be the  owner
of any such abandoned property; and
(ii)  such  other  information as the state comptroller may reasonably
require.
3. Such report shall be in such form  as  the  state  comptroller  may
prescribe.  All names of persons appearing in the section of such report
relating to deposits, appearing to  be  the  owners  thereof,  shall  be
listed  in  alphabetical  order.  Abandoned property other than deposits
listed  in  such  report shall be classified in such manner as the state
comptroller may prescribe, and names of persons appearing to be entitled
to such abandoned property appearing in  such  report  shall  be  listed
alphabetically within each such classification.
4.  No  banking organization in this state, organized under or subject
to the provisions of section six hundred eleven of title twelve  of  the
United  States  code,  shall  be  required  to file reports of abandoned
property relating to any amounts received on or before the thirtieth day
of June, nineteen hundred seventy-seven, unless,  as  of  the  effective
date  of this subdivision, such amounts remain recorded and shown in the
books and  records  of  such  banking  organization  as  an  outstanding
obligation thereof.