Assembly Bill A10239

Signed By Governor
2011-2012 Legislative Session

Relates to the sale of abandoned property location services and to restrictions on agreements to locate abandoned property

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2011-A10239 (ACTIVE) - Details

See Senate Version of this Bill:
S7690
Law Section:
General Business Law
Laws Affected:
Add §393-e, Gen Bus L; amd §1416, Ab Prop L

2011-A10239 (ACTIVE) - Summary

Relates to the sale of abandoned property location services and to restrictions on agreements to locate abandoned property.

2011-A10239 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10239

                          I N  A S S E M B L Y

                              May 15, 2012
                               ___________

Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
  tee on Consumer Affairs and Protection

AN  ACT  to  amend  the general business law, in relation to the sale of
  abandoned property location services; and to amend the abandoned prop-
  erty law, in relation to restrictions on agreements  to  locate  aban-
  doned property

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general business law is amended by adding a new section
393-e to read as follows:
  S 393-E. SALE OF ABANDONED PROPERTY  LOCATION  SERVICES.  1.  FOR  THE
PURPOSES  OF  THIS SECTION, "ABANDONED PROPERTY LOCATION SERVICES" SHALL
INCLUDE ANY SERVICE FOR A FEE PROVIDING ASSISTANCE TO CONSUMERS FOR  THE
PURPOSES  OF LOCATING AND/OR RETRIEVING PROPERTY HELD BY THE STATE COMP-
TROLLER PURSUANT TO THE ABANDONED PROPERTY LAW.
  2. ANY PERSON, CORPORATION, ASSOCIATION, PARTNERSHIP OR  OTHER  ENTITY
WHICH  SELLS  OR  OFFERS  TO  SELL  IN THIS STATE ANY ABANDONED PROPERTY
LOCATION SERVICES SHALL, IN EVERY SOLICITATION AND  AGREEMENT  FOR  SUCH
SERVICES,  PROVIDE  TO THE PURCHASER THE FOLLOWING NOTICE IN A CLEAR AND
CONSPICUOUS MANNER, AND IN AT LEAST TWELVE-POINT BOLDFACE TYPE PRIOR  TO
THE TIME OF SALE:
  "ABANDONED  FUNDS  HELD BY THE STATE CAN BE OBTAINED DIRECTLY FROM THE
OFFICE OF THE STATE COMPTROLLER BY  THE  OWNER  OF  SUCH  FUNDS  WITHOUT
PAYING  A  FEE.   THESE FUNDS ARE HELD INDEFINITELY BY THE OFFICE OF THE
STATE COMPTROLLER. FOR MORE INFORMATION, CONTACT THE OFFICE OF THE STATE
COMPTROLLER AT (INSERT THE CURRENT TELEPHONE NUMBER ESTABLISHED  BY  THE
OFFICE  OF  THE STATE COMPTROLLER FOR RECEIVING INQUIRIES FROM CONSUMERS
REGARDING UNCLAIMED FUNDS) OR (INSERT THE CURRENT ADDRESS OF THE WEBSITE
OF THE OFFICE OF THE STATE COMPTROLLER)."
  S 2. Section 1416 of the abandoned property law, as added  by  chapter
173 of the laws of 1980, is amended to read as follows:
  S  1416.  Restriction on agreement to locate AND/OR RETRIEVE abandoned
property. 1.   FOR THE PURPOSES OF  THIS  SECTION,  "ABANDONED  PROPERTY
LOCATION SERVICES" SHALL INCLUDE ANY SERVICE FOR A FEE PROVIDING ASSIST-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.