March 5, 1990
TO: MEMBERS - ONE PER COMPLEX NO. 10-90
ABANDONED PROPERTY TASK FORCE
RE: EXTENSION OF MARCH 10 DEADLINE UNDER NEW YORK ABANDONED
PROPERTY LAW
__________________________________________________________
We are pleased to inform you that, in response to an
Institute request, the New York Office of Unclaimed Funds has
granted an extension of the March 10 deadline for reporting and
delivering abandoned fund accounts to the State under the New
York Unclaimed Property Law.
The extension applies as follows: (1) for accounts where
mail has been returned from the post office due to the inability
to locate certain shareholders, funds have until April 10, 1990
to file the abandoned property reports with the State; and (2)
for accounts where there has been no activity and mail has not
been returned for a five year period, e.g., certain dividend
reinvestment accounts, funds have until 30 days after the New
York Legislature has adjourned to report abandoned accounts to
the State, providing that the pending legislation concerning the
Abandoned Property Law is not enacted. (See Memorandum to
Members - One Per Complex No. 5-90 and Abandoned Property Task
Force, dated February 13, 1990.)
Attached is a copy of the extension granted by the Office
of Unclaimed Funds.
Amy B. Rosenblum
Assistant General Counsel
Attachment