46:30B-66 - "Good faith" defined - New Jersey Statutes

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.