Abandoned Property - Unclaimed Property Held or Owing For Payment to Security Holders - Reimbursement for property paid or delivered


Published: 2014-09-22

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§ 504. Reimbursement for property paid or delivered. A domestic or
foreign corporation or public corporation or a fiduciary which has paid
or delivered to the state comptroller abandoned property pursuant to
section five hundred two may make payment to the person entitled
thereto, and may file claim for reimbursement for such payment by the
state comptroller, who shall, upon satisfactory proof of such payment
and after audit, reimburse such domestic or foreign corporation or
public corporation or fiduciary. In no event, however, shall such
reimbursement exceed the amount to which the claimant is entitled
pursuant to subdivision two of section fourteen hundred three of this
chapter.