reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-105.2 - Calculation of penalty and interest after examination.

46:30B-105.2 Calculation of penalty and interest after examination.
For the purpose of assessing and calculating the penalties and interest on unclaimed property discovered during an examination or audit and previously payable or distributable but not paid to the administrator, the date on which the unclaimed property was originally payable or distributable shall be used as the date from which penalties and interest are assessed and calculated.
L.1989,c.58,s.1.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-105.3 - Waiver of penalty and interest.

46:30B-105.3 Waiver of penalty and interest.
73. Waiver of penalty and interest. The administrator shall have discretion to waive the payment of penalties and interest or to reduce the amount of the interest in an appropriate circumstance.
L.2002,c.35,s.73.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-106 - Unenforceable agreements

46:30B-106. Unenforceable agreements
46:30B-106. Unenforceable agreements. All agreements to pay compensation to locate, deliver, recover, or assist in the recovery of property reported under this chapter, made within 24 months after the date that the property is paid or delivered to the administrator, are void and unenforceable. Agreements entered into any time after such 24-month period are valid only if the fee or compensation agreed upon is not more than 20% of the value of the property recovered, the agreement is in writing, signed by the apparent owner, and clearly sets forth the nature and value of the property and the value of the apparent owner's share after the fee or compensation has been deducted. Agreements entered into before the property was presumed abandoned are valid only if the fee or compensation agreed upon is not more than 35% of the value, the agreement is in writing, signed by the apparent owner, and clearly sets forth the nature and value of the property and the value of the apparent owner's share after the fee or compensation has been deducted. However, nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.
L.1989, c.58, s.1; amended 1995,c.361.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-107 - Adoption of rules by administrator

46:30B-107. Adoption of rules by administrator
46:30B-107. Adoption of rules by administrator. Pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), the administrator may adopt necessary rules to carry out the provisions of this chapter. Source: New.
L.1989, c.58, s.1.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-108 - Transfer of funds and assets

46:30B-108. Transfer of funds and assets
46:30B-108. Transfer of funds and assets. Upon the effective date of the chapter, all funds and assets remaining in the trust fund heretofore established pursuant to N.J.S.2A:37-41 are hereby transferred to and shall become a part of the separate trust fund established pursuant to R.S.46:30B-74 which fund shall be responsible for claims allowed under any other prior laws. Source: New.
L.1989, c.58, s.1.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30B-109 - Statutes repealed

46:30B-109. Statutes repealed
46:30B-109. Statutes repealed.
The following are repealed:
N.J.S.2A:15-76 to N.J.S.2A:15-85 inclusive;
N.J.S.2A:15-86 to N.J.S.2A:15-91 inclusive;
N.J.S.2A:37-11 to N.J.S.2A:37-33 inclusive;
N.J.S.2A:37-35 and N.J.S.2A:37-36;
N.J.S.2A:37-41;
N.J.S.2A:37-43 and N.J.S.2A:37-44;
N.J.S.17B:31-1 to N.J.S.17B:31-11 inclusive;
P.L.1979, c.88, s.1 (C.2A:37-30.1);
P.L.1967, c.135, s.15 (C.2A:37-45);
P.L.1979, c.298 (C.2A:37-48 to C.2A:37-50 inclusive);
P.L.1945, c.199, ss.1 to 9 inclusive (C.17:9-18 to C.17:9-26 inclusive);
P.L.1947, c.91, s.2 (C.17:9-19.1);
P.L.1978, c.182, s.2 (C.17:9-19.2);
P.L.1946, c.78, ss.4 and 7 (C.17:9-22.3 and C.17:9-24.1);
P.L.1947, c.91, ss.4, 6 and 7 (C.17:9-22.4, C.17:9-22.6 and C.17:9-22.7);
P.L.1966, c.285 (C.32:28-1 to C.32:28-10 inclusive);
P.L.1948, c.456, ss.1 to 5, 7 to 9 and 11 (C.40:26A-1 to C.40:26A-5 inclusive, C.40:26A-7 to C.40:26A-9 inclusive and C.40:26A-11).
L.1989, c.58, s.1.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30C-1 - Definitions relative to lost, abandoned property.

46:30C-1 Definitions relative to lost, abandoned property.
1. As used in this act:
a. "Abandoned property" is property of which the owner has intentionally given up possession under circumstances evincing intent to give up ownership.
b. "Lost property" is property the possession of which has been parted with casually, involuntarily or unintentionally; or which has been mislaid, left or forgotten.
c. A "finder" is a person who acquires legal possession by exercising physical control over abandoned or lost property.
L.1999,c.331,s.1.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30C-3 - Reasonable efforts to return property to owner.

46:30C-3 Reasonable efforts to return property to owner.
3. A finder of lost property shall make reasonable efforts to return the property to its owner. Reasonable efforts to return the property depend on the nature of the property, the circumstances in which it is found and the obtainable information concerning its owner. Reasonable efforts may include:
a. Attempts to notify the owner of the lost property, or the owner of the premises where found,
b. Delivery to the owner or person in charge of the premises where the property was found, or
c. Delivery to the local police, or to a lost-and-found facility for the premises where the property was found.
L.1999,c.331,s.3.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30C-4 - Claiming of lost property.

46:30C-4 Claiming of lost property.
4. a. A person may claim lost property only after making reasonable efforts to return the property to its owner.
b. If the owner of the lost property does not reclaim it within 120 days of the commencement of reasonable efforts to return it:
(1) The owner of the premises where the property was found may claim title to buried or hidden lost property or to lost property which a trespasser found;
(2) The finder of the property may claim title to lost property in other cases.
c. If the owner of the premises or finder does not claim the lost property, and an action is not pending to determine rights to the property:
(1) Marketable property shall be sold by the clerk of the municipality in which it is located and the proceeds, less costs of sale shall be transmitted to the administrator of the "Uniform Unclaimed Property Act (1981)" (R.S.46:30B-1 et seq.), for deposit in the Unclaimed Personal Property Trust Fund established pursuant to the provisions of R.S.46:30B-74;
(2) Non-marketable property may be treated as abandoned.
L.1999,c.331,s.4.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30C-5 - Inapplicability of act.

46:30C-5 Inapplicability of act.
5. a. This act does not apply to property:
(1) Subject to the provisions of the "Uniform Unclaimed Property Act (1981)" (R.S.46:30B-1 et seq.).
(2) The acquisition or ownership of which requires a license, or property the ownership of which can be transferred only by document title.
b. This act does not supersede statutes regulating abandoned and unclaimed motor vehicles pursuant to the provisions of P.L. 1964, c.81 (C.39:10A-1 et seq.) or abandoned vessels pursuant to the provisions of P.L. 1975, c.369 (C.12:7C-7 et seq.).
L.1999,c.331,s.5.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-2 - Findings, declarations relative to unclaimed property on loan to a museum.

46:30D-2 Findings, declarations relative to unclaimed property on loan to a museum.
2. The Legislature finds and declares that the people of the State of New Jersey have an interest in the maintenance and growth of museum collections and in the preservation and protection of property on loan to museums within this State. Loans of property that are of artistic, historic, cultural, and scientific value are made to museums in furtherance of their educational and other charitable purposes. When lenders fail to stay in contact with museums with respect to property on loan, museums must store and care for the property long after the relevant loan period has expired or should reasonably be deemed expired. Museums have limited rights to the use and care of such property, all the while bearing substantial costs related to storage, record keeping, climate control, security, periodic inspection, insurance, and general overhead.
Therefore, it is in the public interest to encourage both museums and lenders to use due diligence in monitoring property on loan; resolve the issue of title to property on loan that is unclaimed and remains in the custody of museums; and allocate fairly the responsibilities between lenders and museums.
The purpose of this act, the Museum Unclaimed Loan Act, is to establish standards and procedures for the disposition of unclaimed property on loan to museums and this act should be interpreted in accordance with these findings and declarations.
L.2011, c.109, s.2.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-3 - Definitions relative to unclaimed property on loan to a museum.

46:30D-3 Definitions relative to unclaimed property on loan to a museum.
3. As used in this act:
"Claimant" means an individual, association, partnership, corporation, trust, estate, or other entity, other than the lender of record, claiming or establishing title to or an interest in property that is on loan to a museum.
"Lender" means an individual, association, partnership, corporation, trust, estate, or other entity having title to or an interest in property on loan to a museum.
"Loan" means a deposit of property with a museum for a specified or unspecified period of time that does not involve a transfer of title to or interest in the property.
"Museum" means a public or private nonprofit agency or institution, and any agency or institution of the State or a political subdivision of the State, located in the State of New Jersey that:
is organized on a permanent basis;
is operated primarily for cultural, aesthetic, educational, scientific, or historic preservation purposes;
utilizes a professional staff;
owns, borrows, cares for, exhibits, studies, archives, or catalogues tangible animate or inanimate objects; and
makes them available to the public on a regular basis.
The term "museum" includes, but is not limited to: art, history, science, and natural history museums; educational institutions; historical societies; historic sites; landmarks; parks; archives; monuments; botanical gardens; arboreta; zoos; nature centers; planetaria; aquaria; libraries; and technology centers.
"Property" means tangible animate or inanimate objects.
L.2011, c.109, s.3.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-4 - Notice of intent to terminate a loan of property.

46:30D-4 Notice of intent to terminate a loan of property.
4. a. Unless a written loan agreement specifically provides otherwise, a museum may give notice of its intent to terminate a loan of property under the following circumstances:
the property is on loan to the museum for an indefinite period of time and the lender, or anyone acting legitimately on the lender's behalf, has not contacted the museum with respect to the loan for at least ten years from the beginning date of the loan; or
the property is on loan to the museum for a specified period of time and the lender, or anyone acting legitimately on the lender's behalf, has not contacted the museum with respect to the loan for at least five years from the expiration date of the loan.
b. Any notice given by a museum pursuant to this act for the purpose of terminating a loan of property shall contain the following information:
a description of the property in sufficient detail for ready identification;
the last known name and address of the lender or a potential claimant;
the date of the loan, if known, or the approximate date the property was deposited with the museum;
the name and address of the museum; and
the name, address, and contact information of the appropriate museum official or office to be contacted regarding the property.
L.2011, c.109, s.4.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-5 - Notice to lender of intention to terminate a loan of property.

46:30D-5 Notice to lender of intention to terminate a loan of property.
5. a. If a museum intends to terminate a loan of property, the museum shall give notice to the lender of its intention at the last known address of the lender. The museum shall undertake a reasonable search in good faith to identify the lender and the lender's last known address from the museum records and other records reasonably available to the museum. The same notice shall be given, and the same search shall be undertaken, by the museum if the museum has knowledge of the existence of a potential claimant.
If the museum identifies the lender or a potential claimant and the last known address of the lender or potential claimant, the notice shall be sent to the lender or potential claimant by certified mail, return receipt requested, to the last known address. Notice shall be deemed given if the museum receives a return receipt showing delivery to the lender or potential claimant within 30 days of the mailing of the notice. The date of a notice shall be deemed to be the date of delivery to the person to whom it was sent.
b. A notice of intent to terminate a loan of property sent to the lender or a potential claimant pursuant to subsection a. of this section shall include, in addition to the information required by subsection b. of section 4 of this act, a statement indicating:
the intent of the museum to terminate the loan;
the date of the notice;
that the lender or potential claimant must contact the museum in order to establish title to or an interest in the property and make arrangements to take possession of the property; and
that failure to contact the museum within 180 days after the date of the notice will result in the loss of title to or an interest in the property pursuant to section 7 of this act.
L.2011, c.109, s.5.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-6 - Notice by publication of intent.

46:30D-6 Notice by publication of intent.
6. a. If a museum intends to terminate a loan of property and has been unable to give notice in accordance with section 5 of this act, the museum shall give notice by publication of intent to terminate a loan of property. Publication shall be by means of a notice placed at least twice, 60 or more days apart, in a newspaper of general circulation in the county or municipality in which the museum is located and in which the last known address of the lender, if known, is located.
b. A published notice of intent to terminate a loan shall include, in addition to the information required in sections 4 and 5 of this act, a request that any person who has knowledge of the lender or potential claimant and where the lender or potential claimant may be located should provide written notice to the museum. If such a written notice is received by the museum, the museum shall provide the notice to the lender or potential claimant required pursuant to section 5 of this act.
c. In addition to the method of notice designated in subsection a. of this section, a museum may, whenever practicable, use an emerging technology to publish such a notice in order to reach as broad a circulation as possible.
L.2011, c.109, s.6.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-7 - Acquisition of good title to property.

46:30D-7 Acquisition of good title to property.
7. A museum shall acquire good title to property on loan to the museum under the following circumstances:
The museum provides, on or after the effective date of this act, notice pursuant to section 5 of this act and receives a return receipt showing delivery of the notice to the lender or a potential claimant within 30 days of the mailing of the notice, but the museum is not contacted by the lender or potential claimant within 180 days after the date of the notice; and
The museum provides, on or after the effective date of this act, notice by publication pursuant to section 6 of this act, but the museum is not contacted by the lender or potential claimant within 180 days of the date of the second or last notice by publication.
L.2011, c.109, s.7.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-8 - Acquisition of good title by purchaser.

46:30D-8 Acquisition of good title by purchaser.
8. a. A person who purchases or otherwise acquires property from a museum acquires good title to the property if the museum has acquired good title to the property in accordance with this act.
b. No action shall be brought against a museum, or its officers, trustees, directors, employees, or agents, to recover property on loan to the museum after the museum has acquired good title in accordance with this act.
c. If there are two or more claimants to property on loan to a museum, the burden shall be upon each claimant to prove title to or an interest in the property. A museum shall not be held liable for delivering property to an uncontested claimant who produces reasonable proof of title to or an interest in the property satisfactory to the museum.
d. Unless there is evidence of bad faith or gross negligence, a museum shall not be prejudiced by reason of any failure to deal with a person who has title to or an interest in property on loan to the museum.
e. If there is a dispute as to the title to or an interest in property on loan to a museum, a museum shall not be held liable for its refusal to deliver the property except in accordance with a court order or judgment.
L.2011, c.109, s.8.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-9 - Actions by museum relative to loan of property.

46:30D-9 Actions by museum relative to loan of property.
9. a. For a loan of property to a museum made on or after the effective date of this act, the museum shall, at the time of the loan:
(1) make and retain a written record containing:
the name, address, and telephone number of the lender,
a description of the property in sufficient detail for ready identification,
the beginning date of the loan, and
the expiration date of the loan;
(2) provide the lender with a signed receipt or agreement containing, at least, the information set forth in paragraph (1) of this subsection; and
(3) inform the lender in writing of the existence of this act and provide the lender with a copy of this act upon the lender's request.
b. With respect to any property on loan to a museum, a museum shall:
(1) update its record if a lender informs the museum of a change of address or change in the title to or interest in the property, or if the lender and museum negotiate a change in the duration of the loan; and
(2) inform the lender in writing of the existence of this act when renewing or updating the record and provide the lender with a copy of this act upon the lender's request.
L.2011, c.109, s.9.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-10 - Notification of change in address, title; proof established by purchaser.

46:30D-10 Notification of change in address, title; proof established by purchaser.
10. a. The lender, or any purchaser, donee, successor, or other assignee of the lender's interest in the property, shall promptly notify the museum in writing of a change in the lender's address or of a change in the title to or interest in the property.
b. A purchaser, donee, successor, or other assignee of the lender's interest shall establish title to or interest in the property by producing reasonable proof satisfactory to the museum.
L.2011, c.109, s.10.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:30D-11 - Agreements between lender and museum; application of act.

46:30D-11 Agreements between lender and museum; application of act.
11. a. A lender and museum may agree in writing to terms and conditions for a loan of property different than the provisions set forth in this act.
b. Except as otherwise specifically provided by law, regulation, or rule, property on loan to a museum shall not escheat to the State under any State unclaimed property law.
c. An interest in or right to property on loan to a museum other than that specifically addressed in this act shall not be affected by this act.
d. A museum shall have a lien for expenses incurred for the reasonable care of property on loan to the museum that is unclaimed after the museum complies, on or after the effective date of this act, with sections 4 and 5 of this act.
e. This act shall apply with regard to any property loaned to a museum before the effective date of this act.
L.2011, c.109, s.11.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-1 - Sale or exchange of goods from other states prohibited; persons violating disorderly persons; punishment

46:31-1. Sale or exchange of goods from other states prohibited; persons violating disorderly persons; punishment
No goods, wares or merchandise manufactured, mined or produced, wholly or in part outside this state, by convicts or prisoners, except convicts or prisoners on parole or probation, shall be sold on the open market in this state, or be sold to or exchanged with any institution of this state or with any of its political divisions or subdivisions.
Any person, firm or corporation, or officer or agent thereof, violating the provisions of this section shall be deemed and adjudged a disorderly person and upon conviction thereof shall be punishable by a fine of not less than fifty nor more than five hundred dollars, or by imprisonment of not less than thirty nor more than ninety days, or by both such fine and imprisonment.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-2 - Brand, label or mark required

46:31-2. Brand, label or mark required
All goods, wares, and merchandise made by convict labor in any jail, penitentiary, prison, reformatory, or other establishment in this state shall be branded, labeled, or marked as provided in this chapter before being exposed for sale, and shall not be so exposed without such brand, label or mark.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-3 - Method and place of marking articles

46:31-3. Method and place of marking articles
The brand, label or mark required by section 46:31-2 of this title shall contain at the head or top thereof the words "convict made" , followed by the year and name of the penitentiary, prison, reformatory, or other establishment in which it was made, all in plain English lettering of the style known as great primer Roman capitals. The brand or mark, if the article will permit, shall be placed upon it and when such branding or marking is impossible, the label shall be used.
The brand, mark or label shall be placed outside of and upon the most conspicuous part of the finished article and its box, crate or covering.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-4 - Possession for sale

46:31-4. Possession for sale
A person dealing in convict-made goods, wares or merchandise, as described in this chapter, the sale of which is lawful, shall not knowingly have them in possession for the purpose of sale, or offering them for sale without the brand, label or mark, required by this chapter, or remove, conceal or deface the brand, label or mark thereon.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-5 - Violations of chapter; misdemeanor

46:31-5. Violations of chapter; misdemeanor
Any person, firm or corporation violating the provisions of this chapter, except sections 46:31-1 and 46:31-6 of this title, shall be deemed guilty of a misdemeanor and upon conviction shall be fined not less than twenty-five nor more than fifty dollars for the first offense, and not less than fifty nor more than two hundred dollars for each subsequent offense.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:31-6 - Goods made by convicts of other states subject to laws of this state; violators disorderly persons; punishment; procedure

46:31-6. Goods made by convicts of other states subject to laws of this state; violators disorderly persons; punishment; procedure
All goods, wares and merchandise manufactured and produced, wholly or in part, outside of this state by convicts or prisoners, except convicts or prisoners on parole or probation, or in any penal or reformatory institution, transported into this state, and remaining herein for use, consumption, sale or storage, shall upon arrival or delivery in this state be subject to the operation and effect of the laws of this state to the same extent and in the same manner as though such goods, wares and merchandise had been manufactured or produced in the penal institutions of this state, and shall not be exempt therefrom by reason of being introduced in the original package or otherwise.
Any person, firm or corporation violating the provisions of this section shall be deemed and adjudged to be a disorderly person, and upon conviction thereof shall be punishable by a fine of not less than fifty dollars, nor more than five hundred dollars, or by imprisonment of not less than thirty days, nor more than ninety days, or both.
All proceedings for violations hereof shall conform to the procedure and practice contained in chapter 206 of the title Administration of Civil and Criminal Justice (s. 2:206-1 et seq.).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:34-1 - Contracts must be bona fide

46:34-1. Contracts must be bona fide
All contracts and agreements between customers and brokers relating to the purchase or sale, either upon credit or margin, of any securities, choses in action, or commodities, including all evidences of debt or property and options for the purchase thereof, shares in any corporation or association, bonds, coupons, scrip, rights, and other evidences of indebtedness or property and options for the purchase thereof or anything movable that is bought or sold, wherein it is mutually understood and agreed by the parties thereto that such contracts or agreements shall be terminated, closed or settled according to, or upon the basis of the public market quotations of prices made on any board of trade or exchange upon which such securities, choses in action or commodities are dealt in and without intending a bona fide purchase or sale or the actual bona fide receipt or delivery of the same shall be utterly void and of no effect.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:34-2 - Contract; when effective

46:34-2. Contract; when effective
All contracts and agreements between customers and brokers respecting the purchase or sale either upon credit or margin of any securities, choses in action or commodities, of the character specifically referred to in section 46:34-1 of this title, wherein it is mutually understood and agreed by the parties thereto that the broker shall purchase or sell such securities, choses in action or commodities, as directed by the customer and for the account and risk of the customer, shall be valid and effective if such purchase or sale shall be actually made by the broker pursuant to such direction and for the account and risk of the customer, even though such purchase or sale may not be made in the customer's name and even though as between the broker and customer the securities, choses in action or commodities so purchased or sold, may not have been actually delivered to or by such customer.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:34-3 - Actions for recovery of money, property or chose in action

46:34-3. Actions for recovery of money, property or chose in action
No action shall be brought or maintained by any customer or broker for the recovery of any money, property or chose in action of any kind or character which shall have been paid, deposited, delivered or advanced as collateral or otherwise or for any debt incurred pursuant to or in compliance with any contract or agreement which is declared by this chapter to be void, but nothing herein contained shall prevent any customer who is a party to a contract of the kind mentioned and described in section 46:34-2 of this title from bringing and maintaining an action for the recovery of any money, property or chose in action delivered or deposited under such contract in case the broker, party to such contract, shall not actually purchase or sell in accordance with the provisions of the contract the securities, choses in action or commodities as directed by the customer and for his account and risk.
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-16 - Custodial gift

46:38-16. Custodial gift
A gift made on or after the effective date of this act in a manner prescribed in section 3 of this act is a "custodial gift" and as such is governed by this act. It is such whether or not the person designated custodian is eligible to serve, and whether or not there is a failure to comply with one or more sections of this act other than section 3.
L. 1963, c. 177, s.4; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-17 - Effect of custodial gift

46:38-17. Effect of custodial gift
A gift made in the manner prescribed in this act is irrevocable and conveys to the minor an indefeasible vested legal title to the security, life insurance or endowment policy, annuity contract, money, tangible personal property, interest in a partnership or general partnership.
L. 1963, c. 177, s. 5. Amended by L.1981, c. 377, s. 3, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-18 - Acceptance of custodianship; notice

46:38-18. Acceptance of custodianship; notice
(a) If a custodial gift includes a security not in registered form the execution by the custodian designee of the acknowledgment of receipt described in section 3(b) of this act constitutes acceptance of the custodianship.
(b) If a custodial gift does not include a security not in registered form, the custodian designee shall be deemed to have accepted the custodianship upon the execution by him and delivery to the donor of a notice in writing of his acceptance of the custodianship. Such written notice of acceptance, when given to the donor upon opening an account with a bank or broker in the custodian's name shall be deemed written acceptance of all subsequent gifts made through such account until the custodian delivers written notification to the donor to the contrary. If the custodian designee does not deliver such a notice of acceptance to the donor within 10 days of the making of the gift, the donor shall promptly deliver to the custodian designee a notice in writing requesting an acceptance or renunciation. If the custodian designee fails to deliver to the donor a written notice of acceptance or renunciation within 10 days after delivery to him of the request, he shall be deemed to have renounced. In that event the donor shall make a written recital of the failure to respond and the consequent renunciation. The donor shall promptly cause a copy of each writing sent, received or made by him to be delivered to each successor custodian and to the minor if he is then 14 years of age or more.
L. 1963, c. 177, s. 6. Amended by L.1981, c. 377, s. 4, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-19 - Successor custodians; designation

46:38-19. Successor custodians; designation
A donor may, at the time of making a custodial gift, designate one or more eligible persons as successor custodians to act as such upon the renunciation, death, resignation or removal of the first custodian or of the preceding successor custodian, by a statement of designation in substantially the following language:
"DESIGNATION OF SUCCESSOR CUSTODIAN
I, ..........................., (name of donor) having this day made a custodial gift under the New Jersey Uniform Gifts to Minors Act to ............................. (name of minor) consisting of ........................... (description of securities, if any, and identification of credits created pursuant to section 3(c) of this act) and having designated .................................... (name of first custodian) custodian for said ................................., (name of minor) hereby designate .............. (name of successor custodian) successor custodian for said ......................., (name of minor) to succeed to the duties of custodian upon the renunciation, death, resignation or removal of said ............................. (name of first custodian)
Dated: ........................... ........................
(signature of donor)"
If more than one successor custodian be named the statement of description shall be altered appropriately.
Executed counterparts of the statement of designation shall be delivered promptly upon execution to the custodian and to each successor custodian, to each broker or bank with whom the donor creates a credit under section 3(c) of this act, and to the minor if he is then 14 years of age or more.
L. 1963, c. 177, s. 7. Amended by L.1981, c. 377, s. 5, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-19.1 - Resignation, death or removal of custodian; designation of successor custodian

46:38-19.1. Resignation, death or removal of custodian; designation of successor custodian
a. A custodian may, before he renounces, dies, resigns or is removed from office, designate a successor custodian if the donor has failed to designate a successor. The custodian may designate his successor by executing and dating an instrument of designation before a subscribing witness other than the successor. The instrument of designation may but need not contain the resignation of the custodian.
b. In the absence of an effective designation of a successor custodian by the custodian, the donor may designate a successor by executing and dating an instrument of designation before a subscribing witness other than the successor.
c. In the absence of an effective designation of a successor custodian by either the custodian or donor, the guardian of the minor shall become successor custodian; in the absence of a guardian, the minor, if he has attained the age of 14 years, may designate a successor custodian by executing an instrument of designation before a subscribing witness other than the successor.
d. If the minor has no guardian and if no successor custodian who is eligible and has not died or become legally incapacitated has been designated as a successor custodian, the legal representative of the donor, the legal representative of the custodian or an adult member of the minor's family may apply to the court for the designation of a successor custodian.
e. A successor custodian has all the rights, powers, duties and immunities of a custodian designated in a manner prescribed by this act.
L. 1981, c. 377, s. 6, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-20 - Acceptance of custodianship by designated successor

46:38-20. Acceptance of custodianship by designated successor
A person designated a successor custodian shall be deemed to have accepted the custodianship upon the execution by him and delivery to the person or court who designated him a notice in writing of his acceptance of the custodianship. If the successor designee does not deliver such a notice of acceptance to the designator within 10 days of delivery to him of the designation, the designator shall promptly deliver to the successor designee a notice in writing requesting an acceptance or renunciation. If the successor designee fails to deliver to the donor a written notice of acceptance or renunciation within 10 days after delivery to him of the request he shall be deemed to have renounced. In that event the donor shall make a written recital of the failure to respond and the consequent renunciation.
The designator shall promptly cause a copy of each writing sent, received or made by him to be delivered to the original custodian or his legal representative, to each other successor custodian, to the donor and to the minor if he is then 14 years of age or more.
L. 1963, c. 177, s. 8; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-20.1 - Taking effect of designation of successor custodian

46:38-20.1. Taking effect of designation of successor custodian
The designation of a successor custodian takes effect as to each item of the custodial property when the custodian resigns, dies or becomes legally incapacitated and the custodian or his legal representative:
a. Causes the item, if it is a security in registered form or a life insurance or endowment policy or annuity contract, to be registered, with the issuing insurance company in the case of a life insurance policy or annuity con- tract, in the name of the successor custodian followed, in substance, by the words: "as custodian for........................ (name of minor) under the New Jersey Uniform Gifts to Minors Act" ; and
b. Delivers or causes to be delivered to the successor custodian any other item of the custodial property, together with the instrument of designation of the successor custodian or a true copy thereof and any additional instruments required for the transfer thereof to the successor custodian.
L. 1981, c. 377, s. 7, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-21 - Persons eligible to be custodians

46:38-21. Persons eligible to be custodians
Only the following persons are eligible to be custodians: the donor of the custodial property, an adult, a guardian of the minor and a trust company. There may not be more than one custodian of the same custodial property at the same time.
L. 1963, c. 177, s. 9. Amended by L.1981, c. 377, s. 8, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-22 - Authorization of trustee or executor to make gift to minor

46:38-22. Authorization of trustee or executor to make gift to minor
An adult may authorize or direct his trustee or executor to make a gift to a minor under this act. If a gift is so made, the trustee or executor shall be deemed the donor of the gift for the purpose of this act.
L. 1963, c. 177, s. 10. Amended by L.1981, c. 377, s. 9, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-23 - Gift to one minor; one person as custodian

46:38-23. Gift to one minor; one person as custodian
Any gift made under this act may be made to only one minor and only one person may be the custodian.
L. 1963, c. 177, s. 11. Amended by L.1981, c. 377, s. 10, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-24 - Placing subject of gift in possession and control of custodian

46:38-24. Placing subject of gift in possession and control of custodian
A donor of a custodial gift shall promptly do all things within his power to put the subject of the gift in the possession and control of the custodian, but neither the donor's failure to comply with this section, nor his designation of an ineligible person as custodian, nor renunciation by the person designated as custodian affects the consummation of the gift.
L. 1963, c. 177, s. 12. Amended by L.1981, c. 377, s. 11, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-24.1 - Placement of possession and control of custodial property in successor custodian; priority of instruments of designation

46:38-24.1. Placement of possession and control of custodial property in successor custodian; priority of instruments of designation
A custodian who executes an instrument of designation of his successor containing the custodian's resignation shall promptly do all things within his power to put each item of the custodial property in the possession and control of the successor custodian named in the instrument. The legal representative of a custodian who dies or becomes legally incapacitated shall promptly do all things within his power to put each item of the custodial property in the possession and control of the successor custodian named in an instrument of designation executed by the custodian or, if none, by the minor if he has no guardian and has attained the age of 14 years, or in the possession and control of the guardian of the minor if he has a guardian. If the custodian has executed more than one instrument of designation, his legal representative shall treat the instrument dated on an earlier date as having been revoked by the instrument dated on a later date.
L. 1981, c. 377, s. 12, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-25 - Rights, duties or authority of guardian with respect to custodial property

46:38-25. Rights, duties or authority of guardian with respect to custodial property
A guardian of a minor shall have no right, power, duty or authority with respect to custodial property except as provided in this act.
L. 1963, c. 177, s. 13; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-26 - Combining and treating gifts as single custodial gift; separate administration of gifts

46:38-26. Combining and treating gifts as single custodial gift; separate administration of gifts
If one person has been designated custodian of 2 or more custodial gifts for the same minor he may combine and treat them for all purposes as if they were a single custodial gift. If, however, any successor custodian under one such gift does not have the same status under another such gift, the gifts shall be held and administered separately unless the court shall provide for a single succession of custodians upon an application under this section.
Upon application of a person who has been designated custodian of 2 or more custodial gifts, each from a different donor, for the same minor, where any successor custodian under one such gift does not have the same status under another such gift, the court may provide for a single succession of custodians for all such gifts notwithstanding the designations by the donors.
L. 1963, c. 177, s. 14; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-28 - Reimbursement for expenses; compensation; bond; liability for losses

46:38-28. Reimbursement for expenses; compensation; bond; liability for losses
(a) A custodian is entitled to reimbursement from the custodial property for his reasonable expenses incurred in the performance of his duties.
(b) A custodian may act without compensation for his services.
(c) Unless he is a donor, a custodian may receive from the custodial property reasonable compensation for his services determined by:
(1) A direction by the donor when the gift is made; or
(2) In the absence of a direction by the donor, such compensation as provided by the law of this State governing compensation of a guardian of the estate of a minor.
(d) A custodian need not give a bond concerning the performance of his duties unless required to do so by this act or by court order.
(e) A custodian not compensated for his services is not liable for losses to the custodial property unless they result from his bad faith, intentional wrongdoing or gross negligence or from his failure to maintain the standard of prudence in investing the custodial property provided in this act.
L. 1963, c. 177, s. 16. Amended by L.1981, c. 377, s. 14, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-29 - Exemption of third persons from liability

46:38-29. Exemption of third persons from liability
An issuer, transfer agent, bank, life insurance company, broker or other person acting on the instructions of or otherwise dealing with any person purporting to act as a donor or custodian (a) is not responsible for determining whether the person designated by the purported donor or by the custodian purporting to act as custodian has been duly designated or whether any purchase, sale or transfer to or by, or any other act of, any person purporting to act as custodian is in accordance with or authorized by this act; (b) is not obliged to inquire into the validity or propriety under this act of any instrument or instructions executed or given by a person purporting to be a donor or custodian; and (c) is not bound to see to the application, by any person purporting to be a custodian, of any money or other property paid or delivered to him. An issuer, transfer agent, bank, life insurance company, broker or other person acting on any instrument of designation of a successor custodian, executed as provided in this act by a minor to whom a gift has been made in the manner prescribed in this act and who has attained the age of 14 years, is not responsible for determining whether the person designated by the minor as successor custodian has been duly designated, nor obliged to inquire into the validity or propriety under this act of the instrument of designation.
L. 1963, c. 177, s. 17. Amended by L.1981, c. 377, s. 15, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
2023 New Jersey Revised Statutes › Title 46 - Property › Section 46:38-30 - Resignation of custodian; procedure

46:38-30. Resignation of custodian; procedure
(a) If a successor custodian who is then in being has been designated, the custodian may resign by (1) executing an instrument of resignation, (2) causing each security which is custodial property and in registered form or a life insurance or endowment policy or annuity contract to be registered, and each account with a broker or in a bank to be carried, in the name of the successor custodian followed by substantially the following language: "as custodian for ....................... (name of minor) under the New Jersey Uniform Gifts to Minors Act," and (3) delivering to the successor custodian the instrument of resignation, each security registered in the name of the successor custodian and all other custodial property, together with any additional instruments required for the transfer thereof, or
(b) If a successor custodian who is then in being has not been designated, the custodian may resign by executing an instrument of resignation designating a successor custodian and taking the steps described in subsection (a)(2) and (a)(3) of this section, or otherwise in accordance with the order of the court, upon application to the court by the custodian for permission to resign and for the designation of a successor custodian.
An ineligible person who has accepted a designation as custodian shall be deemed a lawful custodian for the purpose of the application of the resignation procedure and the powers provided in this section.
L. 1963, c. 177, s. 18. Amended by L.1981, c. 377, s. 16, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).