New York Laws
Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation
629 - Payment of Dividends to Minors, Trustees or Joint Depositors; Payment of Dividends Where Adverse Claim Is Asserted; Interpleader in Certain Actions.

(b) The dividends which are the subject of such an action may remain
with the superintendent to the credit of the action until final judgment
therein and shall not be entitled to interest, and shall be paid by the
superintendent in accordance with the final judgment of the court; or
the dividends in controversy may be paid into court to await the final
determination of the action and when the dividend or dividends are so
paid into court the superintendent shall be stricken out as a party to
the action and his liability shall cease.
(c) The costs in all actions against the superintendent to recover
dividends shall be in the discretion of the court, and may be charged
upon the fund affected by the action.
7. In case the superintendent is in doubt concerning the person
entitled to receive payment of any dividend, or there are conflicting
claims thereto, he may require of the claimant an order of the supreme
court authorizing and directing the payment thereof, but for any payment
made by him in good faith, by check or order, payable to the claimant
appearing from the records in his office to be entitled thereto, he
shall be held harmless and shall not be liable to any subsequent
claimant.

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