State Codes and Statutes

Statutes > New-york > Abp > Article-12 > 1201

§  1201.  Presumption of abandonment.  In any proceeding authorized by  this article if it shall appear from the records of  the  court  of  the  United  States  that  the  rightful owner or owners of money or property  which has been or shall hereafter be deposited  in  the  custody  or  be  under  the  control of, such court, or in the custody of its depository,  registry, clerk, or other officer, have not made  claim  thereto  for  a  period of ten successive years, it shall be presumed for all purposes of  this  article  that  such  rightful owner or owners are, and during such  period have been, unknown,  and  that  they  have  died  without  having  disposed  thereof,  and  without  having left a will, and without having  left any heirs, next-of-kin, or distributees, and that such property has  been abandoned.  In a case where the rightful owners of  such  money  or  property  was  a  corporation  it shall also be presumed for purposes of  this article  that  the  corporation  is  dissolved  and  no  longer  in  existence, and its charter forfeited, and all the foregoing presumptions  set  forth  in  this  section shall be made with respect to the rightful  owners or claimants to the assets of  such  corporation,  including  its  stockholders  and  creditors.  Any  or  all  of  the  foregoing  several  presumptions may be rebutted by competent evidence to the contrary.

State Codes and Statutes

Statutes > New-york > Abp > Article-12 > 1201

§  1201.  Presumption of abandonment.  In any proceeding authorized by  this article if it shall appear from the records of  the  court  of  the  United  States  that  the  rightful owner or owners of money or property  which has been or shall hereafter be deposited  in  the  custody  or  be  under  the  control of, such court, or in the custody of its depository,  registry, clerk, or other officer, have not made  claim  thereto  for  a  period of ten successive years, it shall be presumed for all purposes of  this  article  that  such  rightful owner or owners are, and during such  period have been, unknown,  and  that  they  have  died  without  having  disposed  thereof,  and  without  having left a will, and without having  left any heirs, next-of-kin, or distributees, and that such property has  been abandoned.  In a case where the rightful owners of  such  money  or  property  was  a  corporation  it shall also be presumed for purposes of  this article  that  the  corporation  is  dissolved  and  no  longer  in  existence, and its charter forfeited, and all the foregoing presumptions  set  forth  in  this  section shall be made with respect to the rightful  owners or claimants to the assets of  such  corporation,  including  its  stockholders  and  creditors.  Any  or  all  of  the  foregoing  several  presumptions may be rebutted by competent evidence to the contrary.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Abp > Article-12 > 1201

§  1201.  Presumption of abandonment.  In any proceeding authorized by  this article if it shall appear from the records of  the  court  of  the  United  States  that  the  rightful owner or owners of money or property  which has been or shall hereafter be deposited  in  the  custody  or  be  under  the  control of, such court, or in the custody of its depository,  registry, clerk, or other officer, have not made  claim  thereto  for  a  period of ten successive years, it shall be presumed for all purposes of  this  article  that  such  rightful owner or owners are, and during such  period have been, unknown,  and  that  they  have  died  without  having  disposed  thereof,  and  without  having left a will, and without having  left any heirs, next-of-kin, or distributees, and that such property has  been abandoned.  In a case where the rightful owners of  such  money  or  property  was  a  corporation  it shall also be presumed for purposes of  this article  that  the  corporation  is  dissolved  and  no  longer  in  existence, and its charter forfeited, and all the foregoing presumptions  set  forth  in  this  section shall be made with respect to the rightful  owners or claimants to the assets of  such  corporation,  including  its  stockholders  and  creditors.  Any  or  all  of  the  foregoing  several  presumptions may be rebutted by competent evidence to the contrary.