2023 New York Laws › ABP - Abandoned Property › Article 14 - General Provisions › 1412 - Penalty, Interest and Special Proceedings.

§ 1412. Penalty, interest and special proceedings
1. Any person wilfully failing to make any full and complete report or
  to  file  any  affidavit  required  by this chapter shall forfeit to the
  people of the state the sum of one hundred dollars  for  each  day  such
  report  or  affidavit shall be wilfully delayed or withheld, except that
  the state comptroller may extend the time for making any such report  or
  filing  any  such  affidavit and may waive the payment of any penalty or
  part thereof provided for by this subdivision.
2. In addition to the penalty prescribed in subdivision  one  of  this
  section  for  failure to report, any person failing to pay any sum or to
  deliver any property required to be  paid  or  delivered  to  the  state
  comptroller  by  this  chapter or any law relating to abandoned property
  shall pay to the people of the state interest on the amount or value  of
  such  property. Such interest shall be at the rate of ten per centum per
  annum computed for a period to commence upon the date  such  payment  or
  delivery  was required by this chapter and to terminate upon the date of
  full compliance therewith, except that the state comptroller  may  waive
  the  payment of all or part of such interest whenever in his opinion the
  circumstances warrant such waiver.
3. Upon the failure of any person to fully and completely  report  and
  pay  or  deliver  abandoned property to the comptroller pursuant to this
  chapter or any other law relating to abandoned property, the comptroller
  shall issue a determination of the amount due and owing him as custodian
  of the abandoned property fund. Such determination shall  be  served  by
  certified  mail upon the person failing to report and pay or deliver and
  shall be presumptive evidence of the amount stated therein  as  due  and
  owing  the  comptroller. Such presumption shall apply to that portion of
  the stated amount which is alleged to have become payable or deliverable
  as  abandoned  property  no  longer  than  five  years   following   the
  thirty-first  day  of  December  of  the  year  in which such report was
  required to be filed. If a full  and  complete  report  and  payment  or
  delivery  is  not  made  by such person within thirty days following the
  receipt of the determination, the comptroller shall convene  a  hearing,
  upon  reasonable notice, in order to certify the amount due as abandoned
  property. The notice of hearing shall be served by certified  mail  upon
  the person having failed to report and pay or deliver.
4.  Where  the  comptroller,  or  a  person designated by him, after a
  hearing certifies  the  amount  due  as  abandoned  property  under  the
  provisions  of  this  chapter or any law relating to abandoned property,
  any aggrieved person may institute a special  proceeding  within  ninety
  days  after  notice of said certification under article seventy-eight of
  the civil practice law and rules  for  the  purpose  of  reviewing  said
  certification.  In addition to the foregoing provisions of this section,
  the comptroller may institute a special proceeding in the supreme court,
  for  a  judgment  directing  payment  to  him of any sum certified to be
  payable as abandoned property under this chapter together with  interest
  as provided in subdivision two of this section and in such proceeding by
  the  comptroller  the  certification  by  him  shall be conclusive proof
  thereof.