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: 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 |
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Subsequent court and administrative rulings, or changes to laws, rules and regulations may have modified or clarified or vacated or reversed the information and, or, decisions summarized in NYPPL.
For example, New York State Department of Civil Service's Advisory Memorandum 24-08 reflects changes required as the result of certain amendments to §72 of the New York State Civil Service Law to take effect January 1, 2025 [See Chapter 306 of the Laws of 2024]. Advisory Memorandum 24-08 in PDF format is posted on the Internet at https://www.cs.ny.gov/ssd/pdf/AM24-08Combined.pdf.
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NYPPL Blogger Harvey Randall served as Principal Attorney, New York State Department of Civil Service; Director of Personnel, SUNY Central Administration; Director of Research, Governor’s Office of Employee Relations; Staff Judge Advocate General, New York Guard [See also https://www.linkedin.com/in/harvey-randall-9130a5178/].
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