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New Jersey Statutes, Title: 46, PROPERTY
Chapter 30b:
Section: 46:30b-7.2: Limitation on holder's power to impose charges.
6. Limitation on holder's power to impose charges. A holder may not deduct from the amount due a person who has a legal or equitable interest in any property subject to chapter 30 B of Title 46 of the Revised Statutes any charges due to dormancy or inactivity, unless:
there is an enforceable written contract between the holder and the owner of the property pursuant to which the holder may impose a charge; and
the holder regularly imposes charges and does not regularly reverse or otherwise cancel those charges with respect to the property, the amount of any charges is not unconscionable, and no additional charges are imposed as a result of escheatment of the property.
L.2002,c.35,s.6.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:30b-7.2 (if available):
Court decisions that cite this statute:
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