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NY S07147

Bill

Official Source

Status

Introduced

4/30/2014

Primary Sponsor

Simcha Felder

Click for details

Origin

Senate

2013-2014 General Assembly

AI Summary

  • Restricts the application of abandoned property location service regulations to services specifically for property delivered to and held by the State Comptroller, removing the broader "in this state" language
  • Requires sellers of abandoned property location services to display a conspicuous notice in at least 12-point boldface type informing consumers that abandoned funds can be obtained directly from the State Comptroller without paying a fee
  • Notice must include the State Comptroller's current telephone number and website address for inquiries regarding unclaimed funds
  • Exempts agreements between clients and attorneys or accountants if the services require legal or accounting expertise, a pre-existing relationship exists, or the client initiated the engagement
  • Takes effect immediately upon enactment

Legislative Description

Relates to abandoned property delivered to the state and held by the state comptroller.

Last Action

SUBSTITUTED BY A9116

6/16/2014

Committee Referrals

Rules6/16/2014
Consumer Affairs and Protection4/30/2014

Full Bill Text

No bill text available