33 M.R.S. §2111: Definition of good faith

In this subchapter, payment or delivery of property is made in good faith if a holder:

1. Reasonable basis. 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 Act; or

2. Payment or delivery. 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.