Maine Revised Statutes
Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR
33 §2111. Definition of good faith

§2111. Definition of good faith
In this subchapter, payment or delivery of property is made in good faith if a holder:   [PL 2019, c. 498, §22 (NEW).]
1.  Reasonable basis.  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 Act; or  
[PL 2019, c. 498, §22 (NEW).]
2.  Payment or delivery.  Made payment or delivery:  
A. In response to a demand by the administrator or administrator's agent; or   [PL 2019, c. 498, §22 (NEW).]
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.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).

Structure Maine Revised Statutes