§ 300. Unclaimed property held or owing by banking organizations. 1.\nThe following unclaimed property held or owing by banking organizations\nshall be deemed abandoned property:\n (a) Any amounts due on deposits or any amounts to which a shareholder\nof a savings and loan association or a credit union is entitled, held or\nowing by a banking organization, which shall have remained unclaimed for\nthree years by the person or persons appearing to be entitled thereto,\nincluding any interest or dividends credited thereon, excepting\n (i) any such amount which has been reduced or increased, exclusive of\ndividend or interest payment, within three years, or\n (ii) any such amount which is represented by a passbook not in the\npossession of the banking organization, which has been presented for\nentry of dividend or interest credit within three years, or\n (iii) any such amount with respect to which the banking organization\nhas on file written evidence received within three years that the person\nor persons appearing to be entitled to such amounts had knowledge\nthereof, or\n (iv) any such amount payable only at or by a branch office located in\na foreign country, or payable in currency other than United States\ncurrency, or\n (v) any such amount that is separately identifiable and has been set\naside to meet the burial and related expenses of an individual, provided\nhowever that said amount shall be deemed abandoned property where it\nremains unclaimed for three years subsequent to the death of the\nindividual for whom the amount was deposited.\n (b) Any amounts, together with all accumulations of interest or other\nincrement thereon, held or owing by a banking organization for the\npayment of an interest in a bond and mortgage apportioned or transferred\nby it pursuant to subdivision seven of former section one hundred\neighty-eight of the banking law as it existed prior to July first,\nnineteen hundred thirty-seven, which shall have remained unclaimed by\nthe person or persons appearing to be entitled thereto for three years\nafter the full and final liquidation of such mortgage, excepting\n (i) any such amount which has been reduced by payment to the person or\npersons appearing to be entitled thereto within three years, or\n (ii) any such amount which is represented by a certificate of share\nownership not in the possession of the banking organization, which\ncertificate has been presented for transfer within three years, or\n (iii) any such amount with respect to which the banking organization\nhas on file written evidence received within three years that the person\nor persons appearing to be entitled to such amount had knowledge\nthereof.\n (c) Any amount held or owing by a banking organization for the payment\nof a negotiable instrument under article three of the uniform commercial\ncode or a certified check whether negotiable or not, on which such\norganization is directly liable, which instrument shall have been\noutstanding for more than three years from the date it was payable or\nfrom the date of its issuance, if payable on demand; provided, however,\nthe provisions of this paragraph shall not apply\n (i) to any negotiable instrument payable outside the continental\nlimits of the United States, or\n (ii) to any instrument payable in currency other than United States\ncurrency.\n (d) After the expiration of three years from the opening of any vault,\nsafe deposit box or other receptacle by a banking organization pursuant\nto the provisions of the banking law, any surplus amounts arising from a\nsale by such banking organization of the contents of such vault, safe\ndeposit box or other receptacle pursuant to the provisions of the\nbanking law, the balance remaining of any United States coin or currency\namong the contents of such vault, safe deposit box or other receptacle\nand the balance remaining of the proceeds of the principal of or\ninterest or dividends on any securities among the contents of such
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