An Act To Clarify the Use of Lawyer's Trust Account Funds When the Owner Is Not Known or Cannot Be Located
Maine Legislature, Session 127, LD 1130
Committee: Judiciary
Sponsors: KATZ, HUBBELL, FREY
Amends: 33 MRSA §1952, 33 MRSA §1953, 33 MRSA §1964, 33 MRSA §1964-A, 33 MRSA §1979

Legislative Document 
No. 1130 
S.P. 399 
In Senate, March 31, 2015 
An Act To Clarify the Use of Lawyer's Trust Account Funds When 
the Owner Is Not Known or Cannot Be Located 
Reference to the Committee on Judiciary suggested and ordered printed. 
HEATHER J.R. PRIEST 
Secretary of the Senate 
Presented by Senator KATZ of Kennebec. 
Cosponsored by Representative HUBBELL of Bar Harbor and 
Representative: FREY of Bangor. 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  33 MRSA §1952, sub-§§7-A and 7-B are enacted to read: 
7-A.  Lawyer's trust account.  "Lawyer's trust account" means a pooled trust 
account managed pursuant to rules adopted by the Maine Supreme Judicial Court that 
earns interest or dividends at an eligible institution in which a lawyer or law firm holds 
funds on behalf of a client or clients.  These funds are small in amount or held for a short 
period of time, such that they cannot earn interest or dividends for the client in excess of 
the costs incurred to secure such income.  For the purpose of this subsection, "eligible 
institution" means a financial organization meeting the requirements in rules adopted by 
the Maine Supreme Judicial Court. 
7-B.  Lawyer's trust account program manager.  "Lawyer's trust account program 
manager" means an entity designated by the Maine Supreme Judicial Court to manage the 
lawyer's trust account program adopted by the Maine Supreme Judicial Court. 
Sec. 2.  33 MRSA §1952, sub-§13, ¶¶F and G, as enacted by PL 1997, c. 508, 
Pt. A, §2 and affected by §3, are amended to read: 
F.  An amount due and payable under the terms of an annuity or insurance policy, 
including policies providing life insurance, property and casualty insurance, workers' 
compensation insurance or health and disability insurance; and 
G.  An amount distributable from a trust or custodial fund established under a plan to 
provide health, welfare, pension, vacation, severance, retirement, death, stock 
purchase, profit sharing, employee savings, supplemental unemployment insurance or 
similar benefits.; and 
Sec. 3.  33 MRSA §1952, sub-§13, ¶H is enacted to read: 
H.  Funds in a lawyer's trust account. 
Sec. 4.  33 MRSA §1953, sub-§1, ¶O, as amended by PL 2003, c. 20, Pt. T, §22, 
is further amended to read: 
O.  All other property, including a lawyer's trust account, 3 years after the owner's 
right to demand the property or after the obligation to pay or distribute the property 
arises, whichever first occurs; 
Sec. 5.  33 MRSA §1964, sub-§2, as amended by PL 2003, c. 20, Pt. T, §28, is 
further amended to read: 
2.  Authorized expenditures; transfer of funds.  The administrator may deduct: 
A.  Expenses of sale of unclaimed property; 
B.  Costs of mailing and publication in connection with unclaimed property; 
C.  Reasonable service charges; 
D.  Expenses incurred in examining records of holders of property and in collecting 
the property from those holders; and 
E.  Personal service expenditures for the unclaimed property manager. 
At the end of each year or more often, the administrator shall transfer to the General Fund 
all money in the Unclaimed Property Fund that is in excess of $500,000, except that 
unclaimed lawyer's trust account funds may not be transferred to the General Fund. 
Sec. 6.  33 MRSA §1964-A is enacted to read: 
§1964-A.  Lawyer's trust account funds 
By July 1st of each year, the administrator shall deliver to the lawyer's trust account 
program manager the value of unclaimed lawyer's trust account funds in the Unclaimed 
Property Fund on the preceding June 30th.  If a person files a claim for lawyer's trust 
account funds the value of which has been delivered to the lawyer's trust account program 
manager pursuant to this section and the claim is allowed in accordance with this Act, the 
administrator shall notify the lawyer's trust account program manager and the lawyer's 
trust account program manager shall promptly deliver the value of those funds to the 
administrator to resolve the claim. 
Sec. 7.  33 MRSA §1979, as enacted by PL 1997, c. 508, Pt. A, §2 and affected by 
§3, is amended to read: 
§1979.  Rules 
The administrator may adopt rules pursuant to the Maine Administrative Procedure 
Act necessary to carry out this Act.  Rules adopted under pursuant to this section are 
routine technical rules under as defined in Title 5, chapter 375, subchapter II-A 2-A.  In 
addition, the Maine Supreme Judicial Court may adopt rules for the provisions of this Act 
relating to lawyer's trust accounts. 
SUMMARY 
This bill amends the Uniform Unclaimed Property Act by directing the Treasurer of 
State to deliver unclaimed lawyer's trust account funds to the lawyer's trust account 
program manager designated by the Maine Supreme Judicial Court.  The bill requires the 
lawyer's trust account program manager to return funds to the Treasurer of State if an 
owner of funds is identified.