New Jersey Statutes 46:30B-31. Presumption of abandonment
Terms Used In New Jersey Statutes 46:30B-31
- Apparent owner: means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder. See New Jersey Statutes 46:30B-6
- Business association: means a corporation, joint stock company, investment company, business trust, partnership, unincorporated association, joint venture, limited liability company, safe deposit company, safekeeping depository, financial organization, insurance company, mutual fund, utility or other business entity consisting of one or more persons, whether or not for profit. See New Jersey Statutes 46:30B-6
- Holder: means a person, wherever organized or domiciled, who is the original obligor indebted to another on an obligation. See New Jersey Statutes 46:30B-6
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
three years after the earlier of the date of an unpresented instrument issued to pay interest or a dividend or other cash distribution, or the date of issue of an undelivered stock certificate issued as a stock dividend, split, or other distribution; or
if a dividend or other distribution has not been paid on the stock or other interest for three consecutive years, or the stock or other interest is held pursuant to a plan that provides for the automatic reinvestment of dividends or other distributions, three years after the date of the second mailing of a statement of account or other notification or communication that was returned as undeliverable, or after the holder discontinued mailings to the apparent owner, whichever is earlier.
L.1989, c.58, s.1; amended 2002, c.35, s.21.