Court Opinion

ID: 9754731
Source: CourtListenerOpinion
Date Created: 2023-08-28 20:11:19.438359+00
Date Added: 2024-06-11T07:27:56.960384
License: Public Domain

Jacobs, J.
(concurring). In State v. U. S. Steel Corp., 12 N. J. 38 (1953), the court held that the escheat of abandoned stock did not include dividends thereon which had been declared within the 14-year period. The dissenting-opinion by Justice Brennan, in which' Chief Justice Vanderbilt and I joined, pointed out that this result was highly undesirable and was inconsistent with the dominant legislative purpose. The State has not sought reconsideration of the adverse determination in State v. U. S. Steel Corp., and it remains the law. Accordingly, while adhering fully to my original view, I record my concurrence in the instant matter.
Heher and Jacobs, JJ., concurring in result.
For modification — Chief Justice Weintraub, and Justices Heher, Burling, Jacobs, Francis and Proctor — 6.
Opposed — None.