State Codes and Statutes

Statutes > New-york > Abp > Article-5-a > 513

§  513. Report to accompany payment or delivery. A payment or delivery  pursuant to section five  hundred  twelve  shall  be  accompanied  by  a  verified  written  report,  in  such  form  as the state comptroller may  prescribe, setting forth:    1. With reference to  any  amount  specified  in  subdivision  one  of  section five hundred eleven,    (a) A description of the security,    (b)  The  number  of  shares  represented  or  the  face amount of the  security,    (c) The date the dividend or interest was payable, and    (d) Such other information as the state comptroller may require.    2. With reference to  any  amount  specified  in  subdivision  two  of  section five hundred eleven,    (a)  The name and last known address, if any, of the customer entitled  to such amount,    (b) The date of the last entry, other than the credit of  interest  or  dividends, in the account in which such amount is reflected, recorded or  included, and    (c) Such other information as the state comptroller may require.    3.  With  reference  to any security specified in subdivision three or  four of section five hundred eleven,    (a) A description of the abandoned security,    (b) The number of  shares  represented  or  the  face  amount  of  the  security,    (c)  The  name and last known address, if any, of the person appearing  to be entitled to such abandoned property, and    (d) Such other information as the state comptroller may require.    4. In case any broker or dealer  shall  on  the  thirty-first  day  of  December  in  any  year  neither  hold  nor  owe  any abandoned property  specified in section five hundred eleven, such broker or dealer shall on  or before the tenth day of March next succeeding make a verified written  report to the State Comptroller so stating.    5. In case any broker or dealer determines the property which shall be  deemed abandoned property pursuant to  subdivisions  one  and  three  of  section five hundred eleven by the method provided in subdivision six of  that   section,   the  payment  of  such  abandoned  property  shall  be  accompanied by a verified written report, in  such  form  as  the  state  comptroller  may  prescribe,  which, among other things, shall set forth  the computation of the average factor of such broker or dealer  pursuant  to subdivision six of section five hundred eleven. Each verified written  report   accompanying  the  payment  of  abandoned  property  determined  pursuant to subdivision six of section five hundred eleven shall contain  an undertaking by the broker or dealer making such payment to honor  all  claims  to  the extent herein provided whenever made against such broker  or dealer by any person determined by him or proved to  be  entitled  to  receive  from him a stock or cash dividend received in this state during  the calendar year covered by such report as the holder of  record  of  a  security  or  an  interest  payment on a security received in this state  during such year. Such undertaking shall obligate the broker  or  dealer  to  honor any such claim provided that the payment of abandoned property  relating to the year in question determined pursuant to subdivision  six  of  section  five  hundred  eleven  made by such broker or dealer to the  state comptroller has been exhausted as a result  of  reimbursements  by  the  state  comptroller  to  the  broker  or  dealer or to other persons  claiming such abandoned property  as  provided  in  subdivision  two  of  section  five  hundred  fourteen.  To  the  extent  related to any stock  dividend, any such claim shall not exceed the fair market value of  suchstock  dividend on the thirty-first day of December of the year in which  such stock dividend was deemed abandoned property.

State Codes and Statutes

Statutes > New-york > Abp > Article-5-a > 513

§  513. Report to accompany payment or delivery. A payment or delivery  pursuant to section five  hundred  twelve  shall  be  accompanied  by  a  verified  written  report,  in  such  form  as the state comptroller may  prescribe, setting forth:    1. With reference to  any  amount  specified  in  subdivision  one  of  section five hundred eleven,    (a) A description of the security,    (b)  The  number  of  shares  represented  or  the  face amount of the  security,    (c) The date the dividend or interest was payable, and    (d) Such other information as the state comptroller may require.    2. With reference to  any  amount  specified  in  subdivision  two  of  section five hundred eleven,    (a)  The name and last known address, if any, of the customer entitled  to such amount,    (b) The date of the last entry, other than the credit of  interest  or  dividends, in the account in which such amount is reflected, recorded or  included, and    (c) Such other information as the state comptroller may require.    3.  With  reference  to any security specified in subdivision three or  four of section five hundred eleven,    (a) A description of the abandoned security,    (b) The number of  shares  represented  or  the  face  amount  of  the  security,    (c)  The  name and last known address, if any, of the person appearing  to be entitled to such abandoned property, and    (d) Such other information as the state comptroller may require.    4. In case any broker or dealer  shall  on  the  thirty-first  day  of  December  in  any  year  neither  hold  nor  owe  any abandoned property  specified in section five hundred eleven, such broker or dealer shall on  or before the tenth day of March next succeeding make a verified written  report to the State Comptroller so stating.    5. In case any broker or dealer determines the property which shall be  deemed abandoned property pursuant to  subdivisions  one  and  three  of  section five hundred eleven by the method provided in subdivision six of  that   section,   the  payment  of  such  abandoned  property  shall  be  accompanied by a verified written report, in  such  form  as  the  state  comptroller  may  prescribe,  which, among other things, shall set forth  the computation of the average factor of such broker or dealer  pursuant  to subdivision six of section five hundred eleven. Each verified written  report   accompanying  the  payment  of  abandoned  property  determined  pursuant to subdivision six of section five hundred eleven shall contain  an undertaking by the broker or dealer making such payment to honor  all  claims  to  the extent herein provided whenever made against such broker  or dealer by any person determined by him or proved to  be  entitled  to  receive  from him a stock or cash dividend received in this state during  the calendar year covered by such report as the holder of  record  of  a  security  or  an  interest  payment on a security received in this state  during such year. Such undertaking shall obligate the broker  or  dealer  to  honor any such claim provided that the payment of abandoned property  relating to the year in question determined pursuant to subdivision  six  of  section  five  hundred  eleven  made by such broker or dealer to the  state comptroller has been exhausted as a result  of  reimbursements  by  the  state  comptroller  to  the  broker  or  dealer or to other persons  claiming such abandoned property  as  provided  in  subdivision  two  of  section  five  hundred  fourteen.  To  the  extent  related to any stock  dividend, any such claim shall not exceed the fair market value of  suchstock  dividend on the thirty-first day of December of the year in which  such stock dividend was deemed abandoned property.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Abp > Article-5-a > 513

§  513. Report to accompany payment or delivery. A payment or delivery  pursuant to section five  hundred  twelve  shall  be  accompanied  by  a  verified  written  report,  in  such  form  as the state comptroller may  prescribe, setting forth:    1. With reference to  any  amount  specified  in  subdivision  one  of  section five hundred eleven,    (a) A description of the security,    (b)  The  number  of  shares  represented  or  the  face amount of the  security,    (c) The date the dividend or interest was payable, and    (d) Such other information as the state comptroller may require.    2. With reference to  any  amount  specified  in  subdivision  two  of  section five hundred eleven,    (a)  The name and last known address, if any, of the customer entitled  to such amount,    (b) The date of the last entry, other than the credit of  interest  or  dividends, in the account in which such amount is reflected, recorded or  included, and    (c) Such other information as the state comptroller may require.    3.  With  reference  to any security specified in subdivision three or  four of section five hundred eleven,    (a) A description of the abandoned security,    (b) The number of  shares  represented  or  the  face  amount  of  the  security,    (c)  The  name and last known address, if any, of the person appearing  to be entitled to such abandoned property, and    (d) Such other information as the state comptroller may require.    4. In case any broker or dealer  shall  on  the  thirty-first  day  of  December  in  any  year  neither  hold  nor  owe  any abandoned property  specified in section five hundred eleven, such broker or dealer shall on  or before the tenth day of March next succeeding make a verified written  report to the State Comptroller so stating.    5. In case any broker or dealer determines the property which shall be  deemed abandoned property pursuant to  subdivisions  one  and  three  of  section five hundred eleven by the method provided in subdivision six of  that   section,   the  payment  of  such  abandoned  property  shall  be  accompanied by a verified written report, in  such  form  as  the  state  comptroller  may  prescribe,  which, among other things, shall set forth  the computation of the average factor of such broker or dealer  pursuant  to subdivision six of section five hundred eleven. Each verified written  report   accompanying  the  payment  of  abandoned  property  determined  pursuant to subdivision six of section five hundred eleven shall contain  an undertaking by the broker or dealer making such payment to honor  all  claims  to  the extent herein provided whenever made against such broker  or dealer by any person determined by him or proved to  be  entitled  to  receive  from him a stock or cash dividend received in this state during  the calendar year covered by such report as the holder of  record  of  a  security  or  an  interest  payment on a security received in this state  during such year. Such undertaking shall obligate the broker  or  dealer  to  honor any such claim provided that the payment of abandoned property  relating to the year in question determined pursuant to subdivision  six  of  section  five  hundred  eleven  made by such broker or dealer to the  state comptroller has been exhausted as a result  of  reimbursements  by  the  state  comptroller  to  the  broker  or  dealer or to other persons  claiming such abandoned property  as  provided  in  subdivision  two  of  section  five  hundred  fourteen.  To  the  extent  related to any stock  dividend, any such claim shall not exceed the fair market value of  suchstock  dividend on the thirty-first day of December of the year in which  such stock dividend was deemed abandoned property.