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This entry was published on 2014-09-26
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SECTION 393-E
Sale of abandoned property location services
General Business (GBS) CHAPTER 20, ARTICLE 26
§ 393-e. Sale of abandoned property location services. 1. For the
purposes of this section, "abandoned property location services" shall
include any service for a fee providing assistance to consumers for the
purposes of locating and/or retrieving property held by the state
comptroller pursuant to the abandoned property law.

2. Any person, corporation, association, partnership or other entity
which sells or offers to sell any abandoned property location services
for abandoned property delivered to the state and held by the state
comptroller shall, in every solicitation and agreement for such
services, provide to the purchaser the following notice in a clear and
conspicuous manner, and in at least twelve-point boldface type prior to
the time of sale:

"Abandoned funds held by the State can be obtained directly from the
Office of the State Comptroller by the owner of such funds without
paying a fee. These funds are held indefinitely by the Office of the
State Comptroller. For more information, contact the Office of the State
Comptroller at (insert the current telephone number established by the
Office of the State Comptroller for receiving inquiries from consumers
regarding unclaimed funds) or (insert the current address of the website
of the Office of the State Comptroller)."