January 21, 2020

Searching for abandoned property being held by the New York State Comptroller


The State’s Abandoned Property Law requires banks, insurance companies, utilities, and other businesses to turn dormant savings accounts, unclaimed insurance and stock dividends, and other inactive holdings over to the State. If there has been no activity in the account for a set period of time, usually between two and five years, the money or property is considered unclaimed or abandoned. Although Section 1402 of the Abandoned Property Law has a $20 threshold for such listing, the Comptroller uses a "$50 threshold” for the listings on his Internet website.

Periodically NYPPL provides a sample listing of abandoned property being held by the New York State Comptroller. Below are some randomly selected “New York State” governmental entities currently listed on the Comptroller’s “abandoned property” website. Searching the site requires some “detective skills,” however, as the name of the property owner is not always accurately identified by the entity depositing the property with the Comptroller.

For example, the entity may be reported merely as:

FLEET BANK N A

 However, more often the names are more accurately reported, such as:

CONAGRA FOODS LAMB WESTON INC
NIAGARA MOHAWK POWER CORP
NCS PEARSON INC
ADVISORY SERVICES CORP

PEARSON EDUCATION INC
STERLING LIFE INSURANCE CO
NEW YORK TELEPHONE CO
CDW LLC
OFFIC


UBS SECURITIES LLC
EXAMINATION MGMT SERVICES INC

SABRE HOLDINGS CORP
DELL USA LP
ONONDAGA COUNTY DEPT OF FINANCE
NATIONWIDE MUTUAL INSURANCE CO
RELX INC & AFFILIATES
FASTENAL COMPANY
ACUITY SPECIALITY PRODUCTS INC
COCA COLA REFRESHMENTS USA INC
SYSTEMAX INC

OFFICE EQUIPMENT SOURCE INC
SAFETY KLEEN SYSTEMS INC
AMBIT HOLDINGS LLC
AMBIT HOLDINGS LLC
AFLAC OF NEW YORK
FIRST AMERICAN TITLE CO
  
Interested entities [including individuals] may begin searches via  http://www.osc.state.ny.us/ouf/index.htm

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