N.Y. Gen. Bus. Law § 715

§ 715. Disposition of unclaimed credit balances. In the event the\ncreditor, after due diligence, cannot locate a consumer to make a credit\nbalance refund pursuant to this article, such money shall be retained in\na separate trust account to be maintained by the creditor for such\npurpose for a period of three years and thereafter shall be transferred\nto the New York state department of audit and control to be held\npursuant to the provisions of the New York abandoned property law.\n