What's the law in NY State or in the U.S about unused $$ balances at stores or with organizations?

I had registered for a class with a private organization and paid them $75 in advance. They cancelled the class before it ever started and told me that my money would be kept on my account. I now no longer have a desire to take a class there and have asked for my money back. They told me it can only be used for another program and no refund can be given. They also said that if after 12 months it is unused, they will keep it. Is this legal, especially since I have explicitely asked for it back? Sounds like a case of escheatment.

Answer:
Did you sign anything when signing up for the course? If so, you may want to read the "fine print." I suspect that if the organization is serious about not giving you a cash refund it is because they have their legal ducks in a row, and you have signed something with fine print. If no such fine print exists, then indicate to them that no such policy was brought to your attention before and that you demand your money back immediately, or they will hear next from your lawyer AND you will expect your money back AND legal fees.
If you are notified upfront that there will be no refunds only "store credit" as it were, then they are will within their rights to keep your money.

If they didn't then you will probably have to take them to small claims court to get your cash back.

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