[samstave]

>>4. Hand over any untouched user assets to NY State after five years as “abandoned property.”

So if you hold bitcoin in an account for 5 years, the state will steal it from you by force?

[Philadelphia]

No, if an account is inactive for five years, and the company is unable to contact the account holder, it's turned over to the state to hold. The state publishes a list of unclaimed property and provides a process that the owner or other appropriate party can use to claim their property. You can see how it works in New York at https://www.osc.state.ny.us/ouf/.