2023 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.