Statute · New York General Business Law
N.Y. Gen. Bus. Law § 164 — Disposition of undelivered moneys
N.Y. Gen. Bus. Law § 164
- Type
- Statute
- Source
- New York General Business Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 164. Disposition of undelivered moneys. Every steamship company, express company, or other company, to which moneys received for transmission are returned for the reason that the same cannot be delivered shall forthwith notify the transmitter thereof by mailing written notice to such…
Citator
N.Y. Gen. Bus. Law § 164 — Disposition of undelivered moneys is in force in the current edition of the Code, and nothing recorded condemns it.
§ 164. Disposition of undelivered moneys. Every steamship company, express company, or other company, to which moneys received for transmission are returned for the reason that the same cannot be delivered shall forthwith notify the transmitter thereof by mailing written notice to such transmitter at his last known address. If such money be unclaimed for a period of ninety days after such notice, such company shall immediately turn over such money to the state comptroller who shall maintain the same as a capital revolving fund for the purpose of paying claimants thereof. After such moneys have remained unclaimed in the hands of the comptroller for five years, the same shall escheat to the state.