N.Y. Comp. Codes R. & Regs. tit. 2 § 114.1

Current through Register Vol. 46, No. 53, December 31, 2024

Section 114.1 - Report of abandoned property

(a) On or before the first day of July, 1980, and on or before the first day of April in each succeeding year, every domestic insurer, foreign insurer authorized to do business in this State or agent or agency thereof shall make a verified written report to the State Comptroller, which shall contain a true and accurate statement, as of the first day of January next preceding, of all abandoned property specified in section 1316 of the Abandoned Property Law held or owing by it.

(b) Such report shall set forth:

(1) the name and last known address of any person or persons appearing from the records of such insurer, agent or agency to be entitled to receive any such abandoned property;

(2) the amount appearing from the records of such insurer, agent or agency to be due;

(3) the policy number and the nature or type of insurance coverage represented by such amount;

(4) the date such abandoned property became payable and the number of any instrument issued in payment thereof; and

(5) such other identifying information as the State Comptroller may require.

(c) Such report shall be in such form and the abandoned property listed shall be classified in such manner as the State Comptroller may prescribe. Names of persons appearing to be entitled to such property appearing in such report shall be listed in alphabetical order within each classification.

(d) In case any such insurer, agent or agency shall on the first day of January in any year neither hold nor owe any abandoned property specified in section 1316 of the Abandoned Property Law, it shall on or before the first day of April next succeeding make a verified written report to the State Comptroller so stating.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 114.1