(601) Definition of good faith
N.D. Cent. Code § 47-30.2-30
in effect47-30.2-30. (601) Definition of good faith
In sections 47-30.2-30, 47-30.2-31, 47-30.2-32, 47-30.2-33, 47-30.2-34, 47-30.2-35,
47-30.2-36, 47-30.2-37, and 47-30.2-38, 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 which the holder
reasonably believed required or permitted the property to be paid or delivered.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t47c30-2.pdf#nameddest=47-30p2-30Fetched: 10/16/2026