Bill Text: NY S00899 | 2011-2012 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to the publication by the state of the receipt of unclaimed funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2012-05-14 - referred to ways and means [S00899 Detail]

Download: New_York-2011-S00899-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        899--A
           Cal. No. 655
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
         printed to be committed to the Committee on Finance -- recommitted  to
         the  Committee  on Finance in accordance with Senate Rule 6, sec. 8 --
         reported favorably from said committee, ordered to  first  and  second
         report,  ordered  to  a  third reading, amended and ordered reprinted,
         retaining its place in the order of third reading
       AN ACT to amend the abandoned property law and the state technology law,
         in relation to unclaimed funds
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (b) of subdivision 1 of section 1402 of the aban-
    2  doned  property  law is relettered paragraph (c) and a new paragraph (b)
    3  is added to read as follows:
    4    (B) IN ADDITION TO THE LIST REQUIRED BY PARAGRAPH (A) OF THIS SUBDIVI-
    5  SION, EACH SEPTEMBER AND MARCH, THE STATE COMPTROLLER SHALL PUBLISH IN A
    6  NEWSPAPER, AS PROVIDED BY SECTION ONE THOUSAND FOUR HUNDRED TEN OF  THIS
    7  ARTICLE,  A  STATEMENT  OF  ABANDONED  PROPERTY  PAID TO AND HELD BY THE
    8  STATE, FOR THE RESPECTIVE ANNUAL PERIODS JUNE  FIRST,  THROUGH  NOVEMBER
    9  THIRTIETH  AND DECEMBER FIRST, THROUGH MAY THIRTY-FIRST.  EACH AND EVERY
   10  TIME THE COMPTROLLER PUBLISHES SUCH A STATEMENT, HE OR SHE SHALL INCLUDE
   11  A NOTICE THAT READERS MAY OBTAIN A LARGE PRINT  COPY  OF  THE  UNCLAIMED
   12  FUNDS  LIST  BY  WRITING  THE  COMPTROLLER'S  OFFICE  OR  HAVE  A SEARCH
   13  CONDUCTED FOR THEM BY CALLING A  DESIGNATED  NUMBER.  THIS  NOTICE  MUST
   14  APPEAR  IN  TYPEFACE  AND  FONT-SIZE  ESTABLISHED  BY THE NEW YORK STATE
   15  OFFICE FOR TECHNOLOGY TO ASSIST THE VISUALLY IMPAIRED  AND  INCLUDE  THE
   16  PHONE  NUMBER  AND  MAILING  ADDRESS TO THE NEW YORK STATE OFFICE OF THE
   17  STATE COMPTROLLER, OFFICE OF UNCLAIMED FUNDS.
   18    S 2. Subdivision 1 of section 1416 of the abandoned property  law,  as
   19  added by chapter 173 of the laws of 1980, is amended to read as follows:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00678-02-2
       S. 899--A                           2
    1    1. No agreement to locate property held by the comptroller pursuant to
    2  this chapter shall be valid unless that agreement:
    3    (a) is in writing and signed by the property owner;
    4    (b) discloses the nature of the property; [and]
    5    (c) discloses the name and address of the holder; AND
    6    (D)  INCLUDES  LANGUAGE, ESTABLISHED BY THE STATE COMPTROLLER, STATING
    7  THAT THE FUNDS HELD BY THE STATE  CAN  BE  OBTAINED  DIRECTLY  FROM  THE
    8  OFFICE  OF  THE  COMPTROLLER  BY ITS OWNER WITHOUT PAYING A FEE AND THAT
    9  THESE FUNDS WILL BE HELD INDEFINITELY.
   10    S 3. Section 103 of the state technology law is amended  by  adding  a
   11  new subdivision 18 to read as follows:
   12    18.  TO  CONSULT  WITH  THE COMMISSION ON THE BLIND AND VISUALLY HAND-
   13  ICAPPED TO DEVELOP AND MAINTAIN ACCESSIBILITY STANDARDS FOR TYPEFACE AND
   14  FONT SIZE TO ASSIST THE VISUALLY IMPAIRED.
   15    S 4. This act shall take effect on the sixtieth  day  after  it  shall
   16  have become a law.