§ 554. Retention of forged, counterfeit or spurious documents or
negotiable instruments permitted. Any bank, banker, transfer agent,
railroad, warehouseman or any other person charged with the issue,
reissue, transfer or payment of any of the documents hereinafter
described, in any spurious, counterfeit, forged, altered note, stock
certificate, bond, debenture, check, draft, warrant, traveler's check,
letter of credit, money order, warehouse receipt, negotiable bill of
lading, evidence of indebtedness, certificate of interest or
participation in any profit-sharing agreement, collateral-trust
certificate, preorganization certificate or subscription, transferable
share, investment contract, voting-trust certificate, certificate of
interest in property, tangible or intangible; instrument or document or
writing evidencing ownership of goods, wares, and merchandise; or
transferring or assigning any right, title, or interest in or to goods,
wares, and merchandise, or, in general, any instrument commonly known as
a "security," or any certificate of interest or participation in,
temporary or interim certificate for, receipt for, warrant, or right to
subscribe to or purchase any of the foregoing, is presented for payment
or transfer or for the purpose of obtaining possession of goods or any
property under or pursuant to the terms of such instrument, whether the
same is presented through any clearing house or otherwise, and whether
or not the owner, or purported owner or presentor of such instrument is
within or without the state of New York, may without civil or other
liability, retain such counterfeit, forged or spurious instrument or
document for the purpose of preserving the same, and return in lieu
thereof a photostatic copy with an affidavit setting forth the infirmity
in the original, and the name and address of the person in whose custody
such original remains; provided, however, that such act of retention
shall not in any way vary the effect or alter the property or civil
rights of any person in, to or by reason of such instrument or document
or anything done with or pursuant to the same; and provided further,
that such instrument shall be delivered within fourteen days to the
district attorney within whose jurisdiction the same is retained and
upon such surrender a receipt therefor shall be given to the custodian
thereof; and provided further, that such instrument shall be produced
for use in any court or by any public officer when required to do so
under proper notice, demand or subpoena. The right to require the
production of such document is hereby extended to all officers or courts
whether within the state of New York or elsewhere.