CLYMER v. SUMMIT BANCORP.


726 A.2d 983 (1998)

320 N.J. Super. 90

Brian W. CLYMER, Treasurer of the State of New Jersey, in his capacity as the Unclaimed Property Administrator, Plaintiff, v. SUMMIT BANCORP., Formerly UJB Financial Corporation, a New Jersey Corporation, Defendant.

Superior Court of New Jersey, Chancery Division, Mercer County.

Decided June 10, 1998.


Attorney(s) appearing for the Case

Christine Roy, Deputy Attorney General, for plaintiff (Peter Verniero, Attorney General of New Jersey).

William C. Slattery, Short Hills, for defendant (Slattery, McElwee & Jespersen, P.C.).


PARRILLO, P.J.Ch.

The State commenced this summary action under the Uniform Unclaimed Property Act (N.J.S.A. 46:30B-97) for custodial escheat of funds on deposit with defendant Summit Bancorp, representing outstanding unredeemed bearer and registered governmental bond principal and interest payable on or before June 30, 1994. N.J.S.A. 46:30B-1 to -109. The sole issue is whether the dormancy period for the proceeds...

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