Abandoned Property - Miscellaneous Unclaimed Property - Unclaimed proceeds from the sale of wrecked property


Published: 2014-09-22

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§ 1307. Unclaimed proceeds from the sale of wrecked property. 1. Any
proceeds, less lawful deductions, from a sale of wrecked property
pursuant to section one hundred thirty-eight of the navigation law,
shall be deemed abandoned property.

2. Any proceeds, less lawful deductions, from a sale of perishable
wrecked property, pursuant to the provisions of section one hundred
thirty-one of the navigation law, held or owing by a county treasurer,
which shall have remained unclaimed by the person entitled thereto for
one year from the date of such sale, shall be deemed abandoned property.

3. Any sheriff or county treasurer holding any such abandoned
property, shall pay the same to the state comptroller immediately after
such property shall have been deemed abandoned. Each such payment shall
be accompanied by a written report, affirmed as true and accurate under
penalty of perjury, which shall set forth such information as the state
comptroller may require.