New Jersey Statutes 46:30B-44. Presumption of abandonment
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Terms Used In New Jersey Statutes 46:30B-44
- Holder: means a person, wherever organized or domiciled, who is the original obligor indebted to another on an obligation. See New Jersey Statutes 46:30B-6
- Owner: means a person having a legal or equitable interest in property subject to this chapter or the person's legal representative and includes, but is not limited to, a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor, claimant, or payee in the case of other property. See New Jersey Statutes 46:30B-6
46:30B-44. Presumption of abandonment. Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holder‘s business which remain unclaimed by the owner for more than one year after becoming payable are presumed abandoned. Source: New.
L.1989, c.58, s.1.