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Administrative History
The article, "General Business Law Art. X-A," was enacted by Laws of 1921, Chap. 354, Art. 10-A and concerned transmission of money to foreign countries. It required that any steamship company or express company receiving money pay it out promptly and not hold it; that is, in effect, act as a banking institution. If money paid out was returned as undeliverable, it was to be turned over to the state comptroller for payment to claimants. If money was unclaimed within five years, it escheated to the state.
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