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This entry was published on 2014-09-22
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Payment of abandoned property
Abandoned Property (ABP) CHAPTER 1, ARTICLE 7
§ 703. Payment of abandoned property. 1. In such succeeding month of
September, and on or before the succeeding tenth day thereof, every such
life insurance corporation shall pay to the state comptroller all
property which, as of the first day of January next preceding, was
deemed abandoned pursuant to section seven hundred of this article, held
or owing by such life insurance corporation.

2. Such payment shall be accompanied by a true and accurate report
setting forth such information as the state comptroller may require
relative to such abandoned property including:

(a) the name and last known address of any person or persons appearing
from the records of such life insurance corporation to be entitled to
receive any such abandoned property;

(b) the amount appearing from the records of such corporation to be

(c) the policy number and policy age of the insured;

(d) the date such abandoned property was payable;

(e) the names and last known addresses of each beneficiary appearing
in the records of the insurer; and

(f) such other identifying information as the state comptroller may

3. Such report shall be in such form and the abandoned property listed
shall be classified in such manner as the state comptroller may
prescribe. Names of persons appearing to be entitled to such property or
of beneficiaries appearing in such report shall be listed in
alphabetical order within each such classification.