|§ 501||Unclaimed Property; When Deemed Abandoned|
|§ 502||Payment or Delivery of Abandoned Property|
|§ 503||Report of Abandoned Property|
|§ 504||Reimbursement for Property Paid or Delivered|
Terms Used In New York Laws > Abandoned Property > Article 5
- Amount: shall include , but is not limited to, any dividend, profit or other distribution, whether in cash or securities, and any interest or other payment on or of principal, including the cash value of any security which has matured or has been called for full or partial redemption or is payable to security owners or former security owners
entitled to payments as the result of a merger, consolidation, acquisition or conversion of any type. See N.Y. Abandoned Property Law 500
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Bequest: Property gifted by will.
- Corporation: shall mean any corporation (other than a public corporation as defined in paragraph (b) of this subdivision), joint stock company, association of two or more individuals, committee, partnership, investment company (as defined by, and which is registered under, an act of Congress of the United States entitled the "Investment Company Act of 1940" as amended), unit investment trust or business trust, whether or not for profit. See N.Y. Abandoned Property Law 500
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Docket: A log containing brief entries of court proceedings.
- Domestic corporation: shall mean any corporation organized under the laws of this state or under the laws of this state and one or more other states or foreign countries, but shall not mean a banking organization as defined in this chapter. See N.Y. Abandoned Property Law 500
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: shall mean any individual or any domestic or foreign corporation holding a security for a resident or receiving, as agent of a corporation or as holder of a security, any amount due or to become due a resident as the holder or owner of a security but shall not mean any individual or corporation so acting by direction of a court in any case where such court has not directed a distribution of such amount or security. See N.Y. Abandoned Property Law 500
- Foreign corporation: shall mean any corporation organized under the laws of a state other than New York or under the laws of a foreign country and doing business in this state or authorized to do business in this state, but shall not mean a banking organization as defined in this chapter. See N.Y. Abandoned Property Law 500
- Intestate: Dying without leaving a will.
- Legacy: A gift of property made by will.
- Legatee: A beneficiary of a decedent
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Pretrial conference: A meeting of the judge and lawyers to discuss which matters should be presented to the jury, to review evidence and witnesses, to set a timetable, and to discuss the settlement of the case.
- Probate: Proving a will
- Public corporation: shall mean any state and a public corporation as defined in section sixty-six of the general construction law, but shall not mean an agency or political subdivision of the United States or of a foreign nation. See N.Y. Abandoned Property Law 500
- Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
- Resident: shall mean :
(a) An individual domiciled in this state;
(b) A domestic corporation;
(c) A banking organization, as defined in section one hundred three of this chapter; and
(d) This state and any public corporation organized under its laws. See N.Y. Abandoned Property Law 500
- Security: shall mean :
(a) Any instrument issued by a corporation or public corporation or any entry on the books and records of such corporation or public corporation evidencing an obligation to make any payment of the principal amount of a debt or of any increment due or to become due thereon; or
(b) Any instrument issued by a corporation to evidence a proprietary interest therein or any intangible interest in a corporation as evidenced by the books and records of the corporation except:
(i) A policy of insurance issued by a mutual insurance corporation, or
(ii) A share issued by a savings and loan association, a building and loan association, or a credit union. See N.Y. Abandoned Property Law 500
- Service of process: The service of writs or summonses to the appropriate party.
- Wages: shall include moneys payable, under contract or otherwise, for services rendered to a domestic or foreign corporation or fiduciary, including but not limited to payment of salaries, commissions, royalties, expenses, employee benefits, and insurance benefits payable by a corporation pursuant to a self-insurance plan, less lawful deductions. See N.Y. Abandoned Property Law 500