2023 New York Laws › ABP - Abandoned Property › Article 5-A - Unclaimed Property Held by Brokers › 513 - Report to Accompany Payment or Delivery.

§  513. Report to accompany payment or delivery. A payment or delivery
pursuant to section five  hundred  twelve  shall  be  accompanied  by  a
written  report, affirmed as true and accurate under penalty of perjury,
in such form as the state comptroller may prescribe, setting forth:
1. With reference to  any  amount  specified  in  subdivision  one  of
section five hundred eleven,
(a) A description of the security,
(b)  The  number  of  shares  represented  or  the  face amount of the
security,
(c) The date the dividend or interest was payable, and
(d) Such other information as the state comptroller may require.
2. With reference to  any  amount  specified  in  subdivision  two  of
section five hundred eleven,
(a)  The name and last known address, if any, of the customer entitled
to such amount,
(b) The date of the last entry, other than the credit of  interest  or
dividends, in the account in which such amount is reflected, recorded or
included, and
(c) Such other information as the state comptroller may require.
3.  With  reference  to any security specified in subdivision three or
four of section five hundred eleven,
(a) A description of the abandoned security,
(b) The number of  shares  represented  or  the  face  amount  of  the
security,
(c)  The  name and last known address, if any, of the person appearing
to be entitled to such abandoned property, and
(d) Such other information as the state comptroller may require.
4. In case any broker or dealer determines the property which shall be
deemed abandoned property pursuant to  subdivisions  one  and  three  of
section five hundred eleven by the method provided in subdivision six of
that   section,   the  payment  of  such  abandoned  property  shall  be
accompanied by a written report, affirmed as  true  and  accurate  under
penalty of perjury, in such form as the state comptroller may prescribe,
which,  among  other  things,  shall  set  forth  the computation of the
average factor of such broker or dealer pursuant to subdivision  six  of
section  five  hundred  eleven.  Each  written  report  accompanying the
payment of abandoned property determined pursuant to subdivision six  of
section  five  hundred eleven shall contain an undertaking by the broker
or dealer making such payment to honor all claims to the  extent  herein
provided  whenever  made  against  such  broker  or dealer by any person
determined by him or proved to be entitled to receive from him  a  stock
or cash dividend received in this state during the calendar year covered
by  such  report  as  the  holder of record of a security or an interest
payment on a security received in this  state  during  such  year.  Such
undertaking  shall obligate the broker or dealer to honor any such claim
provided that the payment of abandoned property relating to the year  in
question  determined pursuant to subdivision six of section five hundred
eleven made by such broker or dealer to the state comptroller  has  been
exhausted  as a result of reimbursements by the state comptroller to the
broker or dealer or to other persons claiming such abandoned property as
provided in subdivision two of section five  hundred  fourteen.  To  the
extent  related  to  any stock dividend, any such claim shall not exceed
the fair market value of such stock dividend on the thirty-first day  of
December  of  the year in which such stock dividend was deemed abandoned
property.