Presumption of abandonment for failure to claim dividend or distribution. At the expiration of a three- year period following the failure of the owner to claim a dividend, distribution, or other sum payable to the owner as a result of the interest, the interest is not presumed abandoned unless there have been at least three dividends, distributions, or other sums paid during the period, none of which has been claimed by the owner. If three dividends, distributions, or other sums are paid during the three-year period, the period leading to a presumption of abandonment commences on the date payment of the first unclaimed dividend, distribution, or other sum became due and payable.
N.J. Stat. Ann. § 46:30B-32
Presumption of abandonment for failure to claim dividend or distribution
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.22.
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.