Section 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.