1. The Laws of New York
  2. Consolidated Laws
  3. Abandoned Property
  4. Article 3: Unclaimed Property Held or Owing By Banking Organizations


Section 306 Reimbursement for instruments paid

Abandoned Property (ABP)

Any banking organization which has paid to the state comptroller abandoned property held or owing for the payment of a negotiable instrument or a certified check may make payment to the person entitled thereto, upon presentation of the instrument by such person, and shall thereby be entitled to reimbursement of the amount paid to the comptroller. Such reimbursement shall be made by the comptroller after audit of a claim of the banking organization.