§ 700. Unclaimed life insurance corporation moneys. 1. The following unclaimed property held or owing by life insurance corporations shall be deemed abandoned property: (a) Any moneys held or owing by any life insurance corporation which shall have remained unclaimed for three years by the person or persons appearing to be entitled thereto under matured […]
§ 702. Publication of list of abandoned property. 1. Every such life insurance corporation shall cause to be published, on or before the first day of May in each year, a notice entitled: “NOTICE OF NAMES OF PERSONS APPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY (name of life insurance corporation).” 2. Such notice […]
§ 703. Payment of abandoned property. 1. In such succeeding month of September, and on or before the succeeding tenth day thereof, every such life insurance corporation shall pay to the state comptroller all property which, as of the first day of January next preceding, was deemed abandoned pursuant to section seven hundred of this […]
§ 704. Life insurance departments of savings and insurance banks. The life insurance department of any savings and insurance bank shall be regarded as a domestic life insurance corporation for the purposes of this article and such savings and insurance banks shall comply with and be subject to all the provisions of this article with […]
§ 705. Unclaimed and undistributed property held by superintendent of financial services, as liquidator, upon completion of proceeding. 1. Upon filing the final report or accounting of the superintendent of financial services, as liquidator, closing any proceeding commenced under article seventy-four of the insurance law, all unclaimed and undistributed dividends and other assets of every […]
§ 706. Payment of abandoned property after liquidation by superintendent of financial services. 1. Not later than the first day of October in every year the superintendent of financial services shall pay to the state comptroller all such abandoned property held by him which shall have become abandoned at any time prior to the first […]
§ 707. Reimbursement for claims paid by insurers. Any life insurance corporation which has paid to the state comptroller moneys deemed abandoned property pursuant to the provisions of this article may make payment to any person entitled to all or any part thereof and shall thereby acquire all of the rights of such person to […]
