STATE BY RICHMAN v. Sperry & Hutchinson Co.

The opinion of the court was delivered by

Jacobs, J.

The Chancery Division dismissed the State’s complaint under the Custodial Escheat Act in response to the defendant’s motion for judgment on the pleadings. Thereafter the State appealed to the Appellate Division and, while the appeal was pending there, we certified it on our own motion.

The State’s complaint alleged that the defendant had custody, inter alia, of moneys payable to various persons by way of the right of redemption on trading stamps issued by the defendant and that such moneys had remained unclaimed for more than five years by…