An Act To Clarify the Disposition of Funds Presumed Abandoned in a Lawyer's Trust Account
Maine Legislature, Session 129, LD 1483
Committee: Judiciary
Sponsors: CARDONE, BELLOWS, HARNETT
Amends: 33 MRSA §1952, 33 MRSA §1953, 33 MRSA §1959, 33 MRSA §1979

Legislative Document
No. 1483
H.P. 1085
House of Representatives, April 4, 2019
An Act To Clarify the Disposition of Funds Presumed Abandoned in 
a Lawyer's Trust Account
Reference to the Committee on Judiciary suggested and ordered printed.
ROBERT B. HUNT
Clerk
Presented by Representative CARDONE of Bangor.
Cosponsored by Senator BELLOWS of Kennebec and
Representative: HARNETT of Gardiner.
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 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 the funds cannot earn interest or dividends for the client in excess of the 
costs incurred to secure such interest or dividends.  For the purpose of this subsection, 
"eligible institution" means a financial organization meeting the requirements in rules 
adopted by the Supreme Judicial Court.
7-B.  Lawyer's trust account program manager.  "Lawyer's trust account program 
manager" means an entity designated by the Supreme Judicial Court to manage the 
lawyer's trust account program adopted by the 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 funds in 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 §1959, sub-§5 is enacted to read:
5.  Payment of certain funds presumed abandoned in lawyer's 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 trust account 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 trust account program manager to provide 
funding to organizations whose primary purpose is to provide civil legal aid to low-
income residents of the State.
Sec. 6.  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 Supreme Judicial Court may adopt rules for the provisions of this Act 
relating to lawyer's trust accounts.
SUMMARY
This bill clarifies that funds presumed abandoned under the Uniform Unclaimed 
Property Act in a lawyer's trust account for which identifying client information can be 
found must be delivered to the Treasurer of State.  It provides that funds presumed 
abandoned in a lawyer's trust account for which no identifying client information can be 
found must be transferred to the lawyer's trust account program manager to be used to 
provide funding to organizations whose primary purpose is to provide civil legal aid to 
low-income residents of the State.