Section 1511 - Definition of good faithIn this subchapter, 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.Added 2019, No. 93 (Adj. Sess.) , § 2, eff. 1/1/2021.