2016 New Jersey Revised Statutes
Title 46 - Property
Section 46:30B-66 - "Good Faith" Defined

NJ Rev Stat § 46:30B-66 (2016) What's This?

46:30B-66. "Good faith" defined
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.

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