New Jersey Statutes 46:30B-66. “Good faith” defined
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Terms Used In New Jersey Statutes 46:30B-66
- Fiduciary: A trustee, executor, or administrator.
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity. See New Jersey Statutes 46:30B-6
- Property: means tangible property described in R. See New Jersey Statutes 46:30B-6
46:30B-66. “Good faith” defined. For the purposes of this article, “good faith” means that:
a. Payment or delivery was made in a reasonable attempt to comply with this chapter;
b. The person delivering the property was not a fiduciary then in breach of trust in respect to the property and had a reasonable basis for believing, based on the facts then known to him, that the property was abandoned for the purposes of this chapter; and
c. There is no showing that the records pursuant to which the delivery was made did not meet reasonable commercial standards of practice in the industry. Source: New.
L.1989, c.58, s.1.