Section 67-4a-601 - Definition of good faithIn 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.Repealed and reenacted by Chapter 371, 2017 General Session ,§ 33, eff. 5/9/2017.Amended by Chapter 18, 2007 General Session.