April 9, 1990
TO: MEMBERS - ONE PER COMPLEX NO. 15-90
ABANDONED PROPERTY TASK FORCE
RE: NEW YORK SENATE PASSES CORRECTIVE ABANDONED PROPERTY
LEGISLATION
________________________________________________________
We are pleased to inform you that on Friday, April 6, the
New York Senate passed S.6887, legislation that corrects the
Abandoned Property Law to require that mail be returned by the
post office as undeliverable as an element of abandonment. The
legislation, which was recently passed by the Assembly (see
Memorandum to Members - One Per Complex No. 14-90 and Abandoned
Property Task Force, dated March 29, 1990), has gone to
Governor Cuomo for his consideration. We anticipate that the
Governor will act on it by the end of the month.
We will keep you informed of further developments.
Amy B. Rosenblum
Assistant General Counsel