New York § 1417 - 1417Agreements with other states

§ 1417. 1417Agreements with other states

§ 1417. Agreements with other states. 1. The state comptroller is authorized to enter into reciprocal agreements with appropriate officers or agencies of other states to effectuate the purposes of this chapter. 2. Reciprocal agreements entered into pursuant to this section may include within their terms: (a) agreement to receive and distribute abandoned property between agreeing states, in accordance with existing law, and the manner of such distribution; (b) agreements for cooperation between agreeing states, including the exchange of information and data and use of personnel, in performing audits and other functions relating to securing compliance with this chapter and the applicable statutes of the agreeing states by holders of unclaimed property. 3. (a) For purposes of this section the term "states" shall mean those states, the district of Columbia and the commonwealth of Puerto Rico, which have enacted laws relating to the disposition of unclaimed property and such laws require that the property be held thereby in custody subject to claim by the person or persons entitled thereto at any time. (b) For purposes of this section the phrase "existing law" shall include within its meaning decisions of the supreme court of the United States. 4. No reciprocal agreement made pursuant to the provisions of this section shall become effective until approved as to form by the attorney general (of each agreeing state).