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This entry was published on 2014-09-22
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Voluntary disposition of miscellaneous property not otherwise subject to this chapter
Abandoned Property (ABP) CHAPTER 1, ARTICLE 13
§ 1310. Voluntary disposition of miscellaneous property not otherwise
subject to this chapter. 1. Any person or entity who holds any
intangible personal property, including the proceeds of a sale of
tangible property, which is not otherwise subject to the provisions of
this chapter or any other law regarding the disposition of unclaimed
property belonging to any other person, and which has remained unclaimed
for a period of two years by the person or persons appearing to be
entitled to receive such property, may request in writing, in such form
and manner as the comptroller may by regulation prescribe, that the
comptroller consent to receive payment or delivery of such property.

2. Within thirty days of the receipt of a request pursuant to
subdivision one of this section, the comptroller shall send a written
determination to the person or entity who filed such request which shall
either: (i) consent to the request; (ii) consent to the request subject
to such conditions as he deems necessary and appropriate; or (iii) deny
the request. Any determination by the comptroller denying consent or
placing conditions upon the consent shall specifically state the basis
for such determination and such denial or conditional consent shall be
reviewable in a proceeding pursuant to article seventy-eight of the
civil practice law and rules.

3. Any property reported and paid or delivered to the comptroller
pursuant to this section shall be deemed abandoned property, and any
person or entity paying or delivering such property shall be relieved
and held harmless from any or all liability for any claim or claims
which exist or may exist with respect to such property to the extent
provided in section fourteen hundred four of this chapter.

4. Payment or delivery of property pursuant to this section shall be
accompanied by reports in such form as the comptroller may prescribe.