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New York Proposes a Dormancy Period Increase

New York Proposes a Dormancy Period Increase

Compliance, Legislative Alerts

On May 12, 2016, New York Senate Bill 7803 was introduced into the New York state legislature. The bill proposes a dormancy period increase for many property types. Specifically, the bill increases from three to five years dormancy periods for wages, banking, and securities-related property including brokerage accounts and life insurance property.

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