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N.Y. Abandoned Property Law § 306

Reimbursement for instruments paid

2014-09-22

§ 306. Reimbursement for instruments paid. Any banking organization\nwhich has paid to the state comptroller abandoned property held or owing\nfor the payment of a negotiable instrument or a certified check may make\npayment to the person entitled thereto, upon presentation of the\ninstrument by such person, and shall thereby be entitled to\nreimbursement of the amount paid to the comptroller. Such reimbursement\nshall be made by the comptroller after audit of a claim of the banking\norganization.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.