N.J. Admin. Code § 17:18-5.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 17:18-5.1 - Communication between an issuer, holder, or seller and apparent owner

(a) All communications between an issuer, holder, or seller of property that may become abandoned under the Uniform Unclaimed Property Act, N.J.S.A. 46:30B-1 et seq., (Act) shall be governed by the statutory provisions set forth in N.J.S.A. 46:30B-7.1 and 46:30B-8.

(b) A communication sent to an owner advising that failure to respond to the communication shall be confirmation that the issuer, holder, or seller has no further obligation to pay or transfer held goods to the owner, shall not be considered a valid communication, under the Act, for the purposes of relieving the issuer, holder, or seller (ultimate obligor) of reporting and payment obligations, should said property become abandoned under the Act.

Adopted 46 N.J.R. 1713(a), effective 7/21/2014.