N.Y. Banking Law Section 31
Index of persons entitled to unclaimed amounts

  • payment to persons entitled
  • deduction of service charge
An index shall be kept in the office of the department of the names of all persons for whom the superintendent holds in trust any unclaimed amounts. The superintendent may pay over any such amount which he holds in trust amounting to over three dollars to any person who shall show by evidence satisfactory to the superintendent that he is lawfully entitled to receive it. In cases of doubt or conflicting claims, he may require of the claimant an order of the supreme court authorizing and directing the payment thereof. The superintendent shall be held harmless and shall not be liable to any subsequent claimant for any payment made by him in good faith. The superintendent shall deduct from the amount of any claim of fifty dollars or more allowed by him or ordered by the court to be paid a service charge of one percentum of the amount thereof, but in no event less than one dollar and, in addition, any costs, disbursements and legal fees which the court may allow. The amount so deducted shall be paid into the state treasury in accordance with the provisions of section seventeen of this chapter.

Source: Section 31 — Index of persons entitled to unclaimed amounts; payment to persons entitled; deduction of service charge, https://www.­nysenate.­gov/legislation/laws/BNK/31 (updated Sep. 22, 2014; accessed Apr. 20, 2024).

10
Declaration of policy 11
Department of financial services 12‑A
Power of state chartered banking institutions to exercise the rights of counterpart federally chartered banking institutions 14
Additional powers of the superintendent 14‑A
Rate of interest 14‑B
Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts 14‑C
Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts 14‑D
Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d... 14‑E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form 14‑F
Power of the superintendent of financial services to require the provision of basic banking services 18
Fees for copies and certifications 18‑A
Application fees 18‑B
Holocaust reparations payment fees 19
Assessments for deficiency in reserves against deposits 20
Assessments, penalties and forfeitures entitled to priority 21
Collection of assessments, penalties and forfeitures 22
Fingerprints 23
Acceptance or rejection of certificate 24
Investigation by superintendent 25
Authorization certificate 25‑A
Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions 26
Licenses to foreign banking corporations 27
Exchange and examination of securities 28
Change of location 28‑A
Temporary change of location 28‑B
Credit needs of local communities 28‑BB
Credit needs of local communities 28‑C
Branch office closings 29
Branch offices 30
Unclaimed amounts 31
Index of persons entitled to unclaimed amounts 32
Insurance of deposits and share accounts 33
Reserve depositaries 34
Superintendent as attorney to accept service of process 36
Examinations 36‑A
Reports of lending by banking organizations 36‑B
Preservation of books and records 37
Reports to superintendent 37‑A
Submission of annual reports by the Holocaust claims processing office 38
Power of subpoena 39
Orders of superintendent 40
Revocation of authorization certificate or license or suspension of activities in certain cases 41
Removal of director, trustee or officer 42
Official acts of superintendent and details of department business to be made public 44
Violations 44‑A
Violations and penalties 45
Export finance awareness program
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Accessed:
Apr. 20, 2024

Last modified:
Sep. 22, 2014

§ 31’s source at nysenate​.gov

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