Bill
Bill > A01881
summary
Introduced
01/13/2017
01/13/2017
In Committee
05/17/2017
05/17/2017
Crossed Over
05/17/2017
05/17/2017
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
2017-2018 General Assembly
Bill Summary
AN ACT to amend the abandoned property law, in relation to conforming language relating to the preliminary reporting requirement for unclaimed amounts of money or other property; precluding abandonment based upon undeliverable mail; authorizing the accrual of interest on life insurance policies after payment of abandoned property to the state comptroller; increasing the minimum amount of an abandoned property claim; increasing the threshold for certified mailings; recognizing electronic contact by an owner as written contact; to amend the abandoned property law and the surrogate's court procedure act, in relation to authorizing the payment of interest on monies received directly from surrogate's court and held by the state comptroller as abandoned property; and to amend the state finance law, in relation to annual reports to the state comptroller of custodian of court funds The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the Abandoned Property Law and other related laws to make several changes regarding the reporting and treatment of unclaimed money or property. Key provisions include: conforming language around the preliminary reporting requirement, precluding abandonment based on undeliverable mail, authorizing interest accrual on life insurance policies, increasing the minimum claim amount and certified mailing threshold, recognizing electronic contact as written contact, allowing interest payments on monies received from surrogate's court, and requiring annual reporting to the state comptroller by custodians of court funds. The bill aims to modernize and clarify the state's abandoned property laws.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
REFERRED TO FINANCE (on 05/17/2017)
bill text
bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=A01881&term=2017&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 05/06/2017 |
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=A01881&term=2017&Summary=Y&Actions=Y&Text=Y&Votes=Y | 01/14/2017 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A01881&term=2017&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01881 | 05/06/2017 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A01881&term=2017&Summary=Y&Actions=Y&Text=Y&Votes=Y#A01881 | 01/14/2017 |
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