2023 New York Laws › ABP - Abandoned Property › Article 14 - General Provisions › 1406 - Claims for Abandoned Property Heretofore or Hereafter Paid to the State.

§  1406. Claims for abandoned property heretofore or hereafter paid to
the state. 1. (a) Claim may be filed with the state comptroller for  any
abandoned  property  amounting  to over three dollars heretofore paid to
the state or hereafter  paid  or  delivered  to  the  state  comptroller
pursuant  to  this chapter, except abandoned property heretofore paid to
the state pursuant to
(i) section nine of chapter six  hundred  fifty-one  of  the  laws  of
eighteen  hundred  ninety-two, section forty-four of chapter fifty-eight
of the laws of nineteen hundred nine or as such section was  amended  by
chapter   two   hundred  seventeen  of  the  laws  of  nineteen  hundred
thirty-three and chapter two hundred thirty-one of the laws of  nineteen
hundred  thirty-eight,  and  section eighty-four of chapter five hundred
ninety-three of the laws of nineteen hundred forty;
(ii) section two hundred seventy-two of the surrogate's court act;
(iii) chapter eight hundred fifteen of the laws  of  nineteen  hundred
forty-one  as  amended by chapter seven hundred eighty-eight of the laws
of nineteen hundred forty-two;
(iv) chapter one  hundred  seven  of  the  laws  of  nineteen  hundred
forty-two,  if  such  abandoned  property  was  less  than one dollar in
amount;
(v) chapter seven hundred twenty-seven of the laws of nineteen hundred
twenty-six, or as such chapter  was  amended  by  chapter  four  hundred
fifty-six of the laws of nineteen hundred twenty-seven and section sixty
of chapter fifty-four of the laws of nineteen hundred twenty-nine, if so
paid prior to June first, nineteen hundred forty-one;
(vi)  and  abandoned  property hereafter paid to the state comptroller
pursuant to subdivisions (a) or  (b)  of  section  six  hundred  one  or
section twelve hundred twelve of this chapter.
(b)  The  comptroller  shall  possess  full  and complete authority to
determine all such claims and shall forthwith  send  written  notice  of
such  determination  to  the  claimant.  At  any time within four months
thereafter, such claimant may apply for a hearing and a  redetermination
of  his  claim.  After  an  appropriate  hearing  on  notice, before the
comptroller or person duly designated by him, the comptroller shall make
and serve his final determination, which alone shall  be  reviewable  by
application  to  the  supreme  court,  Albany county, within four months
following the notice of such final determination, upon not less than ten
days' notice to the comptroller.
(c) The  comptroller,  or  any  person  duly  designated  by  him,  is
empowered  to  take testimony and proofs, under oath, upon such hearing,
and shall have power to subpoena and require the attendance of witnesses
and the production of books, papers  and  documents  pertinent  to  such
hearings.
(d)  Whenever  it  shall  be  necessary  for  the state comptroller to
determine the validity of a claim for abandoned property heretofore paid
to the state pursuant to section five of the banking  law  or  hereafter
paid  to the state pursuant to section thirteen hundred of this chapter,
he shall forthwith notify the  corporation  which  paid  such  abandoned
property  to  the  state  of  such  claim. Within thirty days after such
notification such corporation shall send a verified  written  report  to
the   state  comptroller,  containing  such  information  as  the  state
comptroller may require from its books or records. The state comptroller
shall determine from such report the validity of such claim.
2. (a) Claim in the amount or value of ten thousand  dollars  or  more
for  any  abandoned  property  heretofore  paid to the state pursuant to
section forty-four of  chapter  fifty-eight  of  the  laws  of  nineteen
hundred  nine  or  as  such  section  was amended by chapter two hundred
seventeen of the laws of nineteen hundred thirty-three and  chapter  two

hundred  thirty-one  of  the  laws  of nineteen hundred thirty-eight, or
hereafter paid to the state comptroller pursuant  to  paragraph  (a)  of
subdivision  one  of  section  six  hundred  of  this  chapter,  may  be
established  only  on order of the court which had original jurisdiction
of the underlying  matter,  after  service  of  notice  upon  the  state
comptroller  and  upon  due  notice  to  all  parties  to  the action or
proceeding which resulted in the monies  being  paid  into  court.  Such
court  withdrawal  action  shall  be  commenced  in  the court which had
original jurisdiction of the underlying matter  using  the  court  index
number  of  such original action. Notwithstanding any other provision of
law to the contrary, no such withdrawal action shall  be  brought  as  a
special  proceeding  against the state comptroller.  Notwithstanding any
other provision of law to the contrary, if an order directing payment by
the state comptroller  is  made  by  the  court,  the  claimant  or  the
claimant's  attorney  shall  serve  upon  the  state  comptroller a copy
thereof, duly certified by the clerk of the court to be a true  copy  of
the original of such order on file in the clerk's office.
(b)  Where  the value or amount of the claim is less than ten thousand
dollars,  payment  may  be  made  by  the  state  comptroller  on  sworn
application  of  the  claimant  when the identity of the claimant as the
person entitled to payment is established to  the  satisfaction  of  the
state  comptroller. When, in the determination of the state comptroller,
there is insufficient information to enable  the  state  comptroller  to
make  a  determination  of entitlement, any claim, including a claim the
amount of which is less than ten thousand dollars, must  be  established
on order of the court as set forth in paragraph (a) of this subdivision.
The   decision   of  the  state  comptroller  that  the  information  is
insufficient shall not be deemed a denial of the claim.
3. Claim for any abandoned  property  heretofore  paid  to  the  state
pursuant   to  section  two  thousand  two  hundred  twenty-two  of  the
surrogate's  court  procedure  act  or  hereafter  paid  to  the   state
comptroller  pursuant to paragraph (b) of subdivision one of section six
hundred of this chapter may  be  established  only  in  accordance  with
section  two  thousand  two  hundred twenty-two of the surrogate's court
procedure  act.  Any  other   provision   of   law   to   the   contrary
notwithstanding,  if an order directing payment by the state comptroller
is made by the court, the claimant  or  the  claimant's  attorney  shall
serve  upon  the state comptroller a copy thereof, duly certified by the
clerk of the court to be a true copy of the original of  such  order  on
file in the clerk's office.
4.  (a)  Claim for any abandoned property heretofore paid to the state
pursuant to chapter eight  hundred  fifteen  of  the  laws  of  nineteen
hundred  forty-one  as  amended by chapter seven hundred eighty-eight of
the laws of nineteen hundred forty-two, or hereafter paid to  the  state
comptroller  pursuant  to section twelve hundred twelve of this chapter,
may be established only in accordance with this subdivision.
(b) Such claim may be established only  by  a  person,  copartnership,
unincorporated  association  or corporation who shall have had no actual
knowledge of the escheat proceeding and who shall commence a  proceeding
in  the  supreme  court  within  five years after the entry of the final
order of escheat, except that this limitation of time shall be  extended
pursuant to the provisions of limitations of time for commencing actions
of the civil practice law and rules.
(c)  Such  proceeding  shall  be  commenced by a verified petition and
notice of motion, which shall be served upon the comptroller, who  shall
have  twenty  days  within which to answer. The petition shall set forth
the true name, residence and business address, if any, of  the  claimant

and  shall  also set forth in full detail the basis of the claim and the
claimant's chain of title thereto.
(d)  In  such  proceeding the presumptions set forth in section twelve
hundred one of this chapter shall apply.
(e) If the court, after hearing the testimony, shall  find  that  such
claimant,  or  his  predecessor in interest, would have been entitled to
any part of the escheated fund in the escheat proceeding, it shall enter
a final order directing the comptroller to pay to him from the abandoned
property fund an amount equal to that part of  such  escheated  fund  to
which  he  would  have been so entitled, provided such amount shall have
been collected and received by the  comptroller,  without  interest  and
costs.
5.   (a)   Payment  made  by  the  comptroller  upon  presentation  of
satisfactory proof of entitlement, on a claim  made  by  either  of  two
depositors  for  the  proceeds  of  a  joint  deposit  or  share account
originally established pursuant to section six hundred  seventy-five  of
the  banking  law, shall be a valid and sufficient release and discharge
to the comptroller for such payment made on account of such  deposit  or
share  prior  to  the  receipt  by  the comptroller of notice in writing
signed by any one of such depositors, not to pay such deposit or  shares
and any additions or accruals thereon. After receipt of such notice, the
comptroller  may  require  the  receipt  or  acquittance  of  both  such
depositors or shareholders for any payment.
(b) Payment by the comptroller on  a  claim  for  the  proceeds  of  a
deposit account, including any additions or accruals thereon, originally
established  pursuant to section 7-5.2 of the estates, powers and trusts
law or former subdivision two of section one hundred thirty-four of  the
banking law, may be made to the beneficiary of such deposit account upon
presentation  of  satisfactory  proof  of  entitlement.  The  receipt or
acquittance of such beneficiary shall be a valid and sufficient  release
and  discharge  to  the comptroller for the deposit account, or any part
thereof, for such payment prior to the receipt  by  the  comptroller  of
notice   in   writing  that  there  exists  a  testamentary  disposition
sufficient to dispose of such deposit account pursuant to  said  section
7-5.2 of the estates, powers and trusts law.
6.  (a)  Notwithstanding  any  other  provision  of law, claim for any
abandoned condemnation award heretofore or hereafter paid to  the  state
comptroller  pursuant  to  sections ten hundred and ten hundred three of
this chapter for the benefit of unknown persons, or for the  benefit  of
known owners if claim is made by the holder of an equitable lien, may be
established  only  on  order  of  the  court  which made the award after
service of notice upon the state comptroller. Any other provision of law
to the contrary notwithstanding, if an order directing  payment  by  the
state  comptroller  is made by the court, the claimant or the claimant's
attorney shall serve upon the state comptroller  a  copy  thereof,  duly
certified by the clerk of the court to be a true copy of the original of
such order on file in the clerk's office.
(b)  Notwithstanding  any  other  provision  of  law,  payment for any
abandoned condemnation award heretofore or hereafter paid to  the  state
comptroller  pursuant  to  sections ten hundred and ten hundred three of
this chapter for the benefit of known persons may be made by  the  state
comptroller  on sworn application, where the name and last known address
of the person or persons entitled to payment and any  other  identifying
information  as appearing on the records of the court into which payment
was made is included in the report required  to  be  filed  pursuant  to
section  ten  hundred three of this chapter and when the identity of the
claimant as the  person  entitled  to  payment  is  established  to  the
satisfaction of the state comptroller. When, in the determination of the

state comptroller, the identifying information included in the report is
insufficient  to enable the state comptroller to make a determination of
entitlement, such claim must be established only on order of  the  court
as set forth in paragraph (a) of this subdivision.