Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Nov 22, 2022 | signed chap.640 delivered to governor |
Jun 02, 2022 | returned to senate passed assembly ordered to third reading rules cal.610 substituted for a7742a |
Jun 02, 2022 | substituted by s9360 rules report cal.610 reported reported referred to rules |
May 31, 2022 | print number 7742a |
May 31, 2022 | amend (t) and recommit to ways and means |
Jan 05, 2022 | referred to ways and means |
May 26, 2021 | reported referred to ways and means |
May 21, 2021 | referred to judiciary |
assembly Bill A7742A
Signed By GovernorSponsored By
LAVINE
Archive: Last Bill Status Via S9360 - Signed by Governor
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
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Bill Amendments
A7742 - Details
- See Senate Version of this Bill:
- S9360
- Law Section:
- Abandoned Property Law
- Laws Affected:
- Amd §103, add §1319, Ab Prop L
A7742 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7742 2021-2022 Regular Sessions I N A S S E M B L Y May 21, 2021 ___________ Introduced by M. of A. LAVINE -- (at request of the State Comptroller) -- read once and referred to the Committee on Judiciary AN ACT to amend the abandoned property law, in relation to including unclaimed virtual currency within the scope of property covered by such law; authorizing the promulgation of regulations recognizing electronic communication as written contact; and requiring reporting of unclaimed property belonging to deceased persons THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 103 of the abandoned property law is amended by adding two new subdivisions (h) and (i) to read as follows: (H) "VIRTUAL CURRENCY" SHALL HAVE THE SAME MEANING AS SET FORTH IN 23 NYCRR 200.2(P). (I) "VIRTUAL CURRENCY BUSINESS ACTIVITY" SHALL HAVE THE SAME MEANING AS SET FORTH IN 23 NYCRR 200.2(Q). § 2. The abandoned property law is amended by adding a new section 1423 to read as follows: § 1423. ELECTRONIC CONTACT. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER, THE COMPTROLLER SHALL PROMULGATE RULES AND REGULATIONS ESTABLISHING WHEN AN ELECTRONIC COMMUNICATION FROM THE APPARENT OWNER OF AMOUNTS OR SECURITIES AS DEFINED IN SECTION ONE HUNDRED THREE OF THIS CHAPTER SHALL CONSTITUTE "WRITTEN CONTACT" FOR PURPOSES OF TOLLING THE DORMANCY PERIOD. § 3. The abandoned property law is amended by adding a new section 1318 to read as follows: § 1318. UNCLAIMED VIRTUAL CURRENCY. 1. ANY VIRTUAL CURRENCY HELD OR OWING BY ANY BANKING ORGANIZATION, CORPORATION OR OTHER ENTITY ENGAGED IN VIRTUAL CURRENCY BUSINESS ACTIVITY WHICH SHALL HAVE REMAINED UNCLAIMED BY THE PERSON ENTITLED THERETO FOR A PERIOD OF THREE YEARS SHALL BE DEEMED ABANDONED PROPERTY IF: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10524-01-1
A7742A (ACTIVE) - Details
- See Senate Version of this Bill:
- S9360
- Law Section:
- Abandoned Property Law
- Laws Affected:
- Amd §103, add §1319, Ab Prop L
A7742A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7742--A 2021-2022 Regular Sessions I N A S S E M B L Y May 21, 2021 ___________ Introduced by M. of A. LAVINE -- (at request of the State Comptroller) -- read once and referred to the Committee on Judiciary -- reported and referred to the Committee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the abandoned property law, in relation to including unclaimed virtual currency within the scope of property covered by such law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 103 of the abandoned property law is amended by adding two new subdivisions (h) and (i) to read as follows: (H) "VIRTUAL CURRENCY" SHALL HAVE THE SAME MEANING AS SET FORTH IN 23 NYCRR 200.2(P). (I) "VIRTUAL CURRENCY BUSINESS ACTIVITY" SHALL HAVE THE SAME MEANING AS SET FORTH IN 23 NYCRR 200.2(Q). § 2. The abandoned property law is amended by adding a new section 1319 to read as follows: § 1319. UNCLAIMED VIRTUAL CURRENCY. 1. ANY VIRTUAL CURRENCY HELD OR OWING BY ANY BANKING ORGANIZATION, CORPORATION OR OTHER ENTITY ENGAGED IN VIRTUAL CURRENCY BUSINESS ACTIVITY WHICH SHALL HAVE REMAINED UNCLAIMED BY THE PERSON ENTITLED THERETO FOR A PERIOD OF FIVE YEARS SHALL BE DEEMED ABANDONED PROPERTY IF: (A) THE LAST KNOWN ADDRESS OF THE PERSON ENTITLED TO SUCH VIRTUAL CURRENCY AS SHOWN ON THE BOOKS AND RECORDS OF THE ENTITY ENGAGING IN THE VIRTUAL CURRENCY BUSINESS ACTIVITY IS LOCATED IN THE STATE; OR (B) THE LAST KNOWN ADDRESS OF THE PERSON ENTITLED TO SUCH VIRTUAL CURRENCY IS NOT SHOWN ON THE BOOKS AND RECORDS OF THE ENTITY ENGAGING IN THE VIRTUAL CURRENCY BUSINESS ACTIVITY AND THE ENTITY IS INCORPORATED IN THIS STATE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10524-08-2