§ 1312. Unclaimed amounts or securities held by foreign corporations
not authorized to do business in the state of New York. 1. Any amounts
or securities defined as abandoned property by articles three, four,
five, five-a, seven and sections thirteen hundred one, thirteen hundred
thirteen, thirteen hundred fifteen and thirteen hundred sixteen of this
chapter, unclaimed for the periods of time prescribed in such articles
and sections and held by any corporation, banking organization,
insurance company, broker or dealer, utility, joint stock association,
individual engaged in the conduct of business, association of two or
more individuals, committee, business trust or any other entity, whether
profit or non-for-profit, chartered or organized in another state or
under the laws of another state and not authorized to do business in the
state of New York, which are payable to or receivable by persons whose
last known addresses on the records of such corporations or enumerated
organizations are located within the state of New York shall be deemed
abandoned property.

2. Any such abandoned property held or owing by such a corporations or
organizations to which the right to receive a refund of the same is
established to the satisfaction of such corporations or organizations
shall cease to be deemed abandoned.

3. Such abandoned property shall be paid or delivered to the state
comptroller on the same dates and in the same manner as presently
prescribed for such property by this chapter, except that publication
otherwise required by this chapter shall not be applicable to property
deemed abandoned by virtue of this section.