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Utah Code § 67-4a-601

Definition of good faith

Repealed and Re-enacted by Chapter 371, 2017 General Session

In this chapter, payment or delivery of property is made in good faith if a holder:

(1) had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the administrator under this chapter; or

(2) made payment or delivery:

(a) in response to a demand by the administrator or administrator's agent; or

(b) under a guidance or ruling issued by the administrator that the holder reasonably believed required or permitted the property to be paid or delivered.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.