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 Amendment CA_A_S180 (Senate)

COMMITTEE AMENDMENT" PI" to S.P. 399, L.D. 1130, Bill, "An Act To 
Clarify the Use of Lawyer's Trust Account Funds When the Owner Is Not Known or 
Cannot Be Located" 
Amend the bill by striking out everything after the enacting clause and before the 
summary and inserting the following: 
'Sec. 1. 33 MRS A §1959, sub-§5 is enacted to read: 
5. 
Payment of certain funds presumed abandoned in lawyer's pooled trust 
accounts. Notwithstanding any other provision in this chapter to the contrary, a lawyer, 
law firm or financial institution holding funds presumed abandoned in a lawyer's pooled 
trust account managed pursuant to rules adopted by the Maine Supreme Judicial Court for 
which no identifying client information can be found shall file a report with the 
administrator pursuant to section 1958, subsection 1 and then transfer such funds, along 
with a copy of the report, to the lawyer's pooled trust accounts manager to provide 
funding to organizations whose primary purpose is to provide civil legal aid to low-
income residents of the State. For purposes of this subsection, "lawyer's pooled trust 
accounts manager" means an entity designated by the Maine Supreme Judicial Court to 
manage lawyer's pooled trust accounts. For purposes of this subsection, "lawyer's pooled 
trust account" means a pooled trust account managed pursuant to rules adopted by the 
Maine Supreme Judicial Court.' 
SUMMARY 
This amendment, which is the minority report of the Joint Standing Committee on 
Judiciary, replaces the bill with a provision that requires that funds presumed abandoned 
under the Uniform Unclaimed Property Act in a lawyer's pooled trust account for which 
no identifying client information can be found must be transferred to the lawyer's pooled 
trust accounts manager to be used to provide funding to organizations whose primary 
purpose is to provide civillega1 aid to low-income Maine residents. 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" A "to S.P. 399, L.D. 1130 
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. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 05127/15 
.Mac 
LD 1130 
LR 1256(02) 
An Act To Clarify the Use of Lawyer's Trust Account Funds When the Owner Is Not Known or 
Cannot Be Located 
Fiscal Detail and Notes 
Fiscal Note for Bill as Amended by Committee Amendment ':4"( S-/ 'iD ') 
Committee: Judiciary 
Fiscal Note Required: Yes 
Fiscal Note 
Current biennium revenue decrease - General Fund 
Current biennium revenue decrease - Unclaimed Property Fund 
This legislation provides that funds presumed abandoned in a lawyds pooled trust account be transferred to the 
Maine Bar Foundation for civil legal aid to low-income residents. Under current law, and consistent with the 
treatment of other abandoned assets, these funds are remiiied to the State Treasurer and deposited in the Unclaimed 
Property Fund. After an attempt to locate and reunite the owner with the money, any funds still unclaimed are 
h'ansferred at year end to the General Fund. This transfer does not change the State's liability to the owner should he 
or she come forward in the future. This legislation would decrease the amount turned over to the State Treasurer and 
subsequently transferred to the General Fund. The amount of future decreases cannot be determined at this time. 
LR1256(02) - Fiscal Note - Page 1 of 1