Penalty for fraudulent report. A holder who makes a fraudulent report shall pay to the administrator, in addition to interest as provided in R.S.46:30B-103, a civil penalty of $1,000 for each day the report is withheld up to a maximum of $250,000, plus 25% of the value of any property that should have been but was not reported.
N.J. Stat. Ann. § 46:30B-105.1
Penalty for fraudulent report
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; amended 2002, c.35, s.67.
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.