§ 1415. Deduction of certain charges. No deduction shall be made for
service, handling or maintenance charges from property subject to the
abandoned property law, by the holder of such property, unless such
deduction is made pursuant to:

(a) the laws of the state of New York including therein the
regulations of the New York state department of financial services; or

(b) a valid contract which provides, specifically, that the deduction
shall not be refundable or otherwise restored to the owner; and such
deduction is made in the normal course of business of the holder.