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This entry was published on 2014-09-22
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SECTION 702
Publication of list of abandoned property
Abandoned Property (ABP) CHAPTER 1, ARTICLE 7
§ 702. Publication of list of abandoned property. 1. Every such life
insurance corporation shall cause to be published, on or before the
first day of May in each year, a notice entitled: "NOTICE OF NAMES OF
PERSONS APPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY (name
of life insurance corporation)."

2. Such notice shall be published once in at least one newspaper
published in the county of the state in which is located the last-known
address of the holder of a policy under which such abandoned property is
payable. If there are no newspapers published in such county then such
notice shall be published in a newspaper published in an adjacent
county. Such publication shall be in a newspaper printed in the English
language and any other newspaper that will substantially serve to inform
the public of said abandoned property. The comptroller shall promulgate
rules to determine when it is appropriate to designate an additional
publication.

3. Such notice shall set forth:

(a) the names and last known addresses which were in such report, of
all persons appearing to be entitled to any such abandoned property
amounting to fifty dollars or more; provided, however, that with the
consent of the state comptroller, the name and last known address of any
person may be omitted from such notice where special circumstances make
it desirable that such information be withheld. Such names shall be
listed in alphabetical order;

(b) such other information as the state comptroller may require; and

(c) a statement

(i) that a report of unclaimed amounts of money held or owing by it
has been made to the comptroller of the state of New York and that a
list of the names contained in such notice is on file and open to public
inspection at the principal office or place of business of such life
insurance corporation in any city, village or county where any such
abandoned property is payable;

(ii) that such unclaimed moneys will be paid by it on or before the
succeeding thirty-first day of August to persons establishing to its
satisfaction their right to receive the same; and

(iii) that in the succeeding month of September, and on or before the
tenth day thereof, such unclaimed moneys still remaining will be paid to
the comptroller of the state of New York and that it shall thereupon
cease to be liable therefor.

4. Such life insurance corporation shall file with the state
comptroller on or before the tenth day of May in each year proof by
affidavit of such publication.