56:4A-2 - Transfer of rights, title and interest to molder upon customer's failure to take possession;Ā notice
56:4A-2.Ā Transfer of rights, title and interest to molder upon customer's failure to take possession;Ā notice
Unless otherwise agreed to in writing, if a customer does not take possession from a molder of a mold, die or form situated in this State within 3Ā years following its last prior use, the customer's rights, title and interestĀ to the mold, die or form may be transferred by operation of law to the molderĀ for the purpose of destroying the mold, die or form consistent with this act. To transfer title, the molder shall send written notice by registered mail,Ā return receipt requested, to the customer's designated address or, if there isĀ none, to the customer's last known address, indicating that the molder intendsĀ to have the customer's rights, title and interest to the mold, die or formĀ transferred pursuant to this act.
L.1983, c. 217, s. 2.
Unless otherwise agreed to in writing, if a customer does not take possession from a molder of a mold, die or form situated in this State within 3Ā years following its last prior use, the customer's rights, title and interestĀ to the mold, die or form may be transferred by operation of law to the molderĀ for the purpose of destroying the mold, die or form consistent with this act. To transfer title, the molder shall send written notice by registered mail,Ā return receipt requested, to the customer's designated address or, if there isĀ none, to the customer's last known address, indicating that the molder intendsĀ to have the customer's rights, title and interest to the mold, die or formĀ transferred pursuant to this act.
L.1983, c. 217, s. 2.