Good Faith Payment or Delivery of Property by Holder

  1. Law
  2. Tennessee Code
  3. Property
  4. Abandoned or Unclaimed Property
  5. Uniform Unclaimed Property Act
  6. Good Faith Payment or Delivery of Property by Holder

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Under this part, 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 treasurer under this part; or
  2. Made payment or delivery:
    1. In response to a demand by the treasurer or treasurer's agent; or
    2. Pursuant to guidance or a ruling issued by the treasurer that the holder reasonably believed required or permitted the property to be paid or delivered.


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