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This entry was published on 2014-09-22
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Alternative to escheat
Abandoned Property (ABP) CHAPTER 1, ARTICLE 12-A
§ 1223. Alternative to escheat. If it appears from the records of the
United States that the rightful owner of any property subject to escheat
under this article has not made claim thereto for seven years and the
attorney general does not deem it advisable to institute an escheat
proceeding with respect thereto, or has instituted such a proceeding but
has not obtained a judgment of escheat therein, such unclaimed property
may be deemed abandoned property and shall be paid or delivered to the
state comptroller for disposition in accordance with the provisions of
this chapter and the provisions of section ninety-five of the state
finance law.