Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Am I reading this right?
No. No more than dollars under your mattress you don't use for 5 years belongs to NY. Abandoned property deals with THIRD PARTY accounts. So under the BitLicense if you had an account with an exchange and you didn't login for 5 years the EXCHANGE would turn the account over to the state.