301 - Annual report of abandoned property.
§ 301. Annual report of abandoned property. 1. On or before the first day of August in each year every banking organization shall make a verified written report to the state comptroller, which shall contain a true and accurate statement, as of the thirtieth day of June next preceding of all abandoned property specified in section three hundred, held or owing by it. 2. (a) Such report shall, with respect to amounts specified in paragraph (a) of subdivision one of section three hundred which are abandoned property, set forth: (i) the name and last known address of the person or persons appearing from the records of such banking organization to be the owner of any such abandoned property; (ii) the amount appearing from such records to be due such person or persons; (iii) the date of the last transaction with respect to such abandoned property; (iv) the nature and identifying number, if any, of such abandoned property; and (v) such other identifying information as the state comptroller may require. (b) Such report shall, with respect to amounts specified in paragraph (b) of subdivision one of section three hundred which are abandoned property (i) the name and last known address, if any, of the person or persons appearing from the records of such banking organization to be entitled to receive such abandoned property; (ii) the amount appearing from such records to be due such person or persons; (iii) the amount of any interest or other increment due thereon; (iv) the date of the last transaction with respect to such abandoned property; and (v) such other identifying information as the state comptroller may require. (c) Such report shall, with respect to amounts specified in paragraph (c) of subdivision one of section three hundred which are abandoned property, set forth: (i) the name and last known address, if any, of the person or persons appearing from the records of such banking organization to be entitled to receive such abandoned property; (ii) a description of such abandoned property including identifying numbers, if any, and the amount appearing from such records to be due or payable; (iii) the amount of any interest or other increment due thereon; (iv) the date such abandoned property was payable or demandable; (v) the amount and identifying number of any such instrument where the payee thereof is unknown to the banking organization; and (vi) such other identifying information as the state comptroller may require. (d) Such report shall, with respect to amounts specified in paragraph (d) of subdivision one of section three hundred which are abandoned property, set forth: (i) the name and last known address, if any, of the person or persons appearing from the records of such banking organization to be the owner of any such abandoned property; (ii) such other information as the state comptroller may reasonably require. 3. Such report shall be in such form as the state comptroller may prescribe. All names of persons appearing in the section of such reportrelating to deposits, appearing to be the owners thereof, shall be listed in alphabetical order. Abandoned property other than deposits listed in such report shall be classified in such manner as the state comptroller may prescribe, and names of persons appearing to be entitled to such abandoned property appearing in such report shall be listed alphabetically within each such classification. 4. In case any banking organization shall on the thirtieth day of June in any year neither hold nor owe any abandoned property specified in section three hundred, it shall on or before the tenth day of August next succeeding make a verified written report to the state comptroller so stating. 5. Until July first, nineteen hundred fifty, the provisions of this section shall not apply to a credit union organized under the laws of the United States. 5-a. No banking organization in this state, organized under or subject to the provisions of section six hundred eleven of title twelve of the United States code, shall be required to file reports of abandoned property relating to any amounts received on or before the thirtieth day of June, nineteen hundred seventy-seven, unless, as of the effective date of this subdivision, such amounts remain recorded and shown in the books and records of such banking organization as an outstanding obligation thereof.