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This entry was published on 2014-09-22
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Purpose and policy
Abandoned Property (ABP) CHAPTER 1, ARTICLE 12-A
§ 1213. Purpose and policy. It is the purpose of this article to
extend the declared policy of the state with respect to unclaimed or
abandoned property to all such property in the possession, custody or
control of the United States of America, its officers, agencies,
departments, instrumentalities and corporations. Article twelve of the
abandoned property law provides for the escheat of such property paid
into or deposited in courts of the United States. This article provides
for the escheat of all unclaimed or abandoned property, of whatever kind
or nature, in the possession, custody or control of all other federal
authorities, bodies or corporations and shall be liberally construed to
accomplish such purpose.