Abandoned Property - Unclaimed Deposits and Refunds For Utility Services - Payment of abandoned property


Published: 2014-09-22

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§ 403. Payment of abandoned property. 1. In such succeeding month of
October, and on or before the tenth day thereof, every such corporation
shall pay to the state comptroller all property which, as of the first
day of July next preceding, was deemed abandoned pursuant to section
four hundred of this article, held or owing by such corporation.

2. Such payment shall be accompanied by a true and accurate report
setting forth such information as the state comptroller may require
relating to such abandoned property including:

(a) as to abandoned property specified in paragraphs (a) and (b) of
subdivision one of section four hundred of this article:

(i) the name and last known address of each depositor or subscriber
appearing from the records of such corporation to be entitled to receive
any such abandoned property;

(ii) the date when the deposit was made or amount paid;

(iii) the amount of such deposit or payment;

(iv) the date when utility services furnished to such consumer or
subscriber ceased;

(v) any sums due and unpaid to the corporation by such consumer or
subscriber, with interest thereon from the date of termination of
service;

(vi) the amount of interest due upon such deposit or payment on any
balance thereof that has remained with such corporation and not been
credited to such consumer's or subscriber's account;

(vii) the amount of such abandoned property; and

(viii) such other identifying information as the state comptroller may
require.

(b) as to abandoned property specified in paragraph (c) of subdivision
one of section four hundred of this article:

(i) the name and last known address of each person appearing from the
records of such corporation to be entitled to receive the same;

(ii) the amount appearing from such records to be due each such
person;

(iii) the date payment became due; and

(iv) such other identifying information as the state comptroller may
require.

3. Such report shall be in such form and the abandoned property listed
shall be classified in such manner as the state comptroller may
prescribe. Names of persons entitled to such abandoned property
appearing in such report shall be listed in alphabetical order within
each such classification.