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STATE v. NEW JERSEY NATIONAL BANK AND TRUST CO.

62 N.J. 50 (1972)

298 A.2d 65

STATE OF NEW JERSEY, BUREAU OF ESCHEATS, PLAINTIFF-APPELLANT, v. NEW JERSEY NATIONAL BANK AND TRUST CO., A CORPORATION ORGANIZED UNDER THE LAWS OF THE UNITED STATES, DEFENDANT-RESPONDENT.

The Supreme Court of New Jersey.

Decided December 18, 1972.

Attorney(s) appearing for the Case

Mr. Stephen Skillman, Assistant Attorney General, argued the cause for the appellant (Mr. George F. Kugler, Jr., Attorney General of New Jersey, attorney; Mr. Robert W. Dempsey, Deputy Attorney General, on the brief).

Mr. Stephen C. Carton argued the cause for the respondent (Messrs. Carton, Nary, Witt & Arvanitis, attorneys).

The opinion of the Court was delivered by JACOBS, J.

The Chancery Division held that in an absolute escheat action (N.J.S.A. 2A:37-1 to N.J.S.A. 2A:37-28) the State could escheat original shares of the defendant corporation which had remained unclaimed for at least 14 successive years, together with such additional shares as had resulted from stock splits or replacements; it further held, however, that the dividends on the original shares (including...

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