Interest payable for failure to pay or deliver property in time. A person who fails to pay or deliver property within the time prescribed by this chapter shall pay to the administrator interest at the annual rate of 10% above the annual rate of discount, in effect on the date the property should have been paid or delivered, for the most recent issue of 52-week United States Treasury bills on the property or value thereof from the date the property should have been paid or delivered. Source: New.
N.J. Stat. Ann. § 46:30B-103
Interest payable for failure to pay or deliver property in time
Known as the Uniform Unclaimed Property Act
The act spans §§ 46:30B-1 to 46:30B-99 (136 sections).
L.1989, c.58, s.1.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.