Utah § 67-4a-601 Definition of good faith.

Utah Statutes

§ 67-4a-601 — Definition of good faith.

Utah·Title 67 State Officers and Employees·Ch. 67-4a Revised Uniform Unclaimed Property Act·Part 67-4a-6 Taking Custody of Property by Administrator

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:

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

(2)(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.

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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:

(2)(a) in response to a demand by the administrator or administrator's agent; or
(2)(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.

Utah § 67-4a-601 (Definition of good faith.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.