46:30B-16 - Presumption of abandonment - New Jersey Statutes

46:30B-16  Presumption of abandonment.

46:30B-16.  Presumption of abandonment.  Any sum payable on a check, draft, or similar instrument, except those subject to R.S.46:30B-11 and R.S.46:30B-12, on which a financial organization is directly liable, including a cashier's check and a certified check, which has been outstanding for more than three years after it was payable on demand, is presumed abandoned, unless the owner, within three years, has communicated in writing with the financial organization concerning it or otherwise indicated an interest as evidenced by a contemporaneous memorandum or other record on file prepared by an employee thereof.

L.1989, c.58, s.1; amended 2002, c.35, s.13.