Section 47-30.2-30 - (601) Definition of good faithIn sections 47-30.2-30, 47-30.2-31, 47-30.2-32, 47-30.2-33, 47-30.2-34, 47-30.2-35, 47-30.2-36, 47-30.2-37, and 47-30.2-38, 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; or2. 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 which the holder reasonably believed required or permitted the property to be paid or delivered.Added by S.L. 2021, ch. 337 (SB 2048),§ 17, eff. 7/1/2021.