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Can you summarize NYCL ABP Article 13?
Abandoned Property > Miscellaneous Unclaimed Property
Short Summary
The provided legal document content covers various aspects of unclaimed property, including uncashed travelers checks and money orders, unclaimed moneys collected by utility corporations, voluntary disposition of miscellaneous property, unclaimed wages held by the Department of Labor, proceeds from the sale of wrecked property, unclaimed personal property of discharged, deceased, or escaped persons in specific state institutions, unclaimed property resulting from the administration of the vehicle and traffic law, unclaimed amounts or securities held by foreign corporations, miscellaneous unclaimed property, unclaimed insurance proceeds other than life insurance, unclaimed moneys resulting from the sale of pledged or mortgaged personal property, unclaimed property held by sales finance companies and insurance premium finance agencies, and unclaimed virtual currency held by banking organizations and other entities engaged in virtual currency business activity. These documents apply to various organizations and entities involved in the respective areas of unclaimed property. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Organizations selling travelers checks or money orders, gas corporations, electric corporations, gas and electric corporations, district steam corporations, telegraph corporations, telephone corporations, telegraph and telephone corporations, water works corporations, any person or entity holding intangible personal property, Department of Labor, commissioner of motor vehicles, commissioner of taxation and finance, specific state institutions, banking organizations, corporations, joint stock companies, individuals, associations, committees, business trusts, sales finance companies, insurance premium finance agencies, foreign corporations, corporations engaged in virtual currency business activity
What does it govern?
Treatment of uncashed travelers checks and money orders, unclaimed moneys collected by utility corporations, voluntary disposition of miscellaneous property, unclaimed wages held by the Department of Labor, proceeds from the sale of wrecked property, unclaimed personal property of discharged, deceased, or escaped persons in specific state institutions, unclaimed property resulting from the administration of the vehicle and traffic law, unclaimed amounts or securities held by foreign corporations, miscellaneous unclaimed property, unclaimed insurance proceeds other than life insurance, unclaimed moneys resulting from the sale of pledged or mortgaged personal property, unclaimed property held by sales finance companies and insurance premium finance agencies, unclaimed virtual currency held by banking organizations and other entities engaged in virtual currency business activity
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
New York