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New Jersey Statutes, Title: 46, PROPERTY
Chapter 30b:
Section: 46:30b-31: Presumption of abandonment.
46:30B-31. Presumption of abandonment. Stock or other interest in a business association, including a debt obligation other than a bearer bond or original issue discount bond, is presumed abandoned:
three years after the earlier of the date of an unpresented instrument issued to pay interest or a dividend or other cash distribution, or the date of issue of an undelivered stock certificate issued as a stock dividend, split, or other distribution; or
if a dividend or other distribution has not been paid on the stock or other interest for three consecutive years, or the stock or other interest is held pursuant to a plan that provides for the automatic reinvestment of dividends or other distributions, three years after the date of the second mailing of a statement of account or other notification or communication that was returned as undeliverable, or after the holder discontinued mailings to the apparent owner, whichever is earlier.
L.1989, c.58, s.1; amended 2002, c.35, s.21.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:30b-31 (if available):
Court decisions that cite this statute:
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