New York Laws
Article 2 - Department of Financial Services; Superintendent of Financial Services; Supervisory and Regulatory Powers
31 - Index of Persons Entitled to Unclaimed Amounts; Payment to Persons Entitled; Deduction of Service Charge.

§ 31. Index of persons entitled to unclaimed amounts; payment to
persons entitled; deduction of service charge. An index shall be kept in
the office of the department of the names of all persons for whom the
superintendent holds in trust any unclaimed amounts. The superintendent
may pay over any such amount which he holds in trust amounting to over
three dollars to any person who shall show by evidence satisfactory to
the superintendent that he is lawfully entitled to receive it. In cases
of doubt or conflicting claims, he may require of the claimant an order
of the supreme court authorizing and directing the payment thereof. The
superintendent shall be held harmless and shall not be liable to any
subsequent claimant for any payment made by him in good faith. The
superintendent shall deduct from the amount of any claim of fifty
dollars or more allowed by him or ordered by the court to be paid a
service charge of one percentum of the amount thereof, but in no event
less than one dollar and, in addition, any costs, disbursements and
legal fees which the court may allow. The amount so deducted shall be
paid into the state treasury in accordance with the provisions of
section seventeen of this chapter.

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