§ 67-4a-601. Definition of good faith.

In this chapter, 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 that the holder reasonably believed required or permitted the property to be paid or delivered.