46:30B-45 - Presumption of abandonment - New Jersey Statutes

46:30B-45  Presumption of abandonment.

46:30B-45.  Presumption of abandonment.  All property held in a safe deposit box or any other safekeeping repository in this State in the ordinary course of the holder's business and proceeds resulting from the sale of the property permitted by other law, which remain unclaimed by the owner for more than five years after the lease or rental period or other custodial agreement on the box or other repository has expired, are presumed abandoned.

L.1989, c.58, s.1; amended 2002, c.35, s.69.