reglab/housing_qa huggingface dataset:
18-C ME Rev Stat § 6-402 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-402. Definitions

 §6-402. Definitions As used in this Part, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]1.  Beneficiary.  "Beneficiary" means a person that receives property under a transfer on death deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Designated beneficiary.  "Designated beneficiary" means a person designated to receive property in a transfer on death deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3.  Joint owner.  "Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. "Joint owner" includes a joint tenant. "Joint owner" does not include a tenant in common without a right of survivorship.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 4.  Person.  "Person" means an individual, corporation, estate, trustee, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 5.  Property.  "Property" means an interest in real property located in this State that is transferable on the death of the owner.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 6.  Transfer on death deed.  "Transfer on death deed" means a deed authorized under this Part.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 7.  Transferor.  "Transferor" means an individual who makes a transfer on death deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-403 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-403. Applicability

 §6-403. Applicability This Part applies to a transfer on death deed made before, on or after September 1, 2019 by a transferor dying on or after September 1, 2019.   [PL 2019, c. 417, Pt. B, §9 (AMD).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §9 (AMD). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-404 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-404. Nonexclusivity

 §6-404. Nonexclusivity This Part does not affect any method of transferring property otherwise permitted under the law of this State.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-405 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-405. Transfer on death deed authorized

 §6-405. Transfer on death deed authorized An individual may transfer for no consideration property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-406 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-406. Transfer on death deed revocable

 §6-406. Transfer on death deed revocable A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-407 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-407. Transfer on death deed nontestamentary

 §6-407. Transfer on death deed nontestamentary A transfer on death deed is nontestamentary.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-408 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-408. Capacity of transferor; undue influence of transferor

 §6-408. Capacity of transferor; undue influence of transferor 1.  Capacity.  The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Undue influence.  In addition to any other criminal or civil causes of action or relief at law or equity, Title 33, chapter 20 applies to transfers under this Part.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-409 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-409. Requirements

 §6-409. Requirements A transfer on death deed:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]1.  Essential elements and formalities.  Except as otherwise provided in subsection 2, must contain the essential elements and formalities of a properly recordable inter vivos deed;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Death of transferor.  Must state that the transfer to the designated beneficiary is to occur at the transferor's death; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3.  Recorded before transferor's death.  Must be recorded before the transferor's death in the public records in the registry of deeds in the county where the property is located.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-410 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-410. Notice, delivery, acceptance, consideration not required

 §6-410. Notice, delivery, acceptance, consideration not required A transfer on death deed is effective without:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]1.  Notice, delivery or acceptance.  Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Consideration.  Consideration.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-411 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-411. Revocation by instrument authorized; revocation by act not permitted

 §6-411. Revocation by instrument authorized; revocation by act not permitted 1.  Revocation by instrument.  Subject to subsection 2, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:   A. Is one of the following:   (1) A transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency;   (2) An instrument of revocation that expressly revokes the deed or part of the deed; or   (3) An inter vivos deed that expressly revokes the transfer on death deed or part of the deed; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]B. Is acknowledged by the transferor after the acknowledgment of the deed being revoked and recorded before the transferor's death in the registry of deeds in the county where the deed is recorded.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).][PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  More than one transferor.  If a transfer on death deed is made by more than one transferor:   A. Revocation by a transferor does not affect the deed as to the interest of another transferor; and   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]B. A deed of joint owners is revoked only if it is revoked by all of the living joint owners.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).][PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3.  Revocation after recorded.  After a transfer on death deed is recorded, it may not be revoked by a revocatory act on the deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 4.  Inter vivos transfer.  As described in section 6-412, this section does not limit the effect of an inter vivos transfer of the property.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-412 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-412. Effect of transfer on death deed during transferor's life

 §6-412. Effect of transfer on death deed during transferor's life During a transferor's life, a transfer on death deed does not:   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]1.  Affect interest or right of transferor or other owner.  Affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Affect interest or right of transferee.  Affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3.  Affect interest or right of creditor.  Affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 4.  Affect eligibility or public assistance.  Affect the transferor's or designated beneficiary's eligibility for any form of public assistance;   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 5.  Create legal or equitable interest.  Create a legal or equitable interest in favor of the designated beneficiary; or   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 6.  Subject the property to claims or process.  Subject the property to claims or process of a creditor of the designated beneficiary.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-413 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-413. Effect of transfer on death deed at transferor's death

 §6-413. Effect of transfer on death deed at transferor's death 1.  Upon death of transferor.  Except as otherwise provided in the transfer on death deed, in this section or in section 2-507, 2-603, 2-802 or 2-805 or in Article 2, Part 2, on the death of the transferor, the following rules apply to property that is the subject of a transfer on death deed and owned by the transferor at death.   A. Subject to paragraph B, the interest in the property is transferred to the designated beneficiary in accordance with the deed.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]B. The interest of a designated beneficiary is contingent on the designated beneficiary surviving the transferor. The interest of a designated beneficiary that fails to survive the transferor lapses.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]C. Subject to paragraph D, concurrent interests are transferred to the beneficiaries in equal and undivided shares with no right of survivorship.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]D. If the transferor has identified 2 or more designated beneficiaries to receive concurrent interests in the property, the share of one that lapses or fails for any reason is transferred to the other or to the others in proportion to the interest of each in the remaining part of the property held concurrently.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).][PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Subject to all interests.  Subject to Title 33, section 201, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens and other interests to which the property is subject at the transferor's death. For purposes of this subsection and Title 33, section 201, the recording of the transfer on death deed is deemed to have occurred at the transferor's death.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 3.  Joint owner.  If a transferor is a joint owner and is:   A. Survived by one or more other joint owners, the property that is the subject of a transfer on death deed belongs to the surviving joint owner or owners with right of survivorship; or   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]B. The last surviving joint owner, the transfer on death deed is effective.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).][PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 4.  No covenant or warranty of title.  A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-414 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-414. Notice of death affidavit

 §6-414. Notice of death affidavit A beneficiary who takes under a transfer on death deed may file for recording in the registry of deeds in the county where the real property is located a notice of death affidavit to confirm title following the death of the transferor. The notice of death affidavit must contain the name and address, if known, of each beneficiary taking under the transfer on death deed, the street address of the property, the date of the transfer on death deed, the book and page number at which the transfer on death deed was recorded prior to the transferor's death, the name of the deceased transferor, the date and place of death and the name and address to which all future tax bills should be mailed. The affidavit must be notarized.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]After recording the notice of death affidavit, the register of deeds shall return the original affidavit to the person who filed it and mail a copy of the affidavit to the tax assessor of the municipality where the property is located.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]The filing of the notice of death affidavit is not a condition to the transfer of title.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-415 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-415. Disclaimer

 §6-415. Disclaimer A beneficiary may disclaim all or part of the beneficiary's interest as provided by Article 2, Part 9.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-416 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-416. Liability for creditor claims and statutory allowances

 §6-416. Liability for creditor claims and statutory allowances A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor's probate estate and statutory allowances to a surviving spouse and children to the extent provided in section 6-102.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-419 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-419. Uniformity of application and construction

 §6-419. Uniformity of application and construction In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-420 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-420. Relation to Electronic Signatures in Global and National Commerce Act

 §6-420. Relation to Electronic Signatures in Global and National Commerce Act This Part modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 United States Code, Section 7001, et seq., but does not modify, limit or supersede Section 101(c) of that Act, 15 United States Code, Section 7001(c), or authorize electronic delivery of any of the notices described in Section 103(b) of that Act, 15 United States Code, Section 7003(b).   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 6-421 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 6: NONPROBATE TRANSFERS ON DEATH|Part 4: UNIFORM REAL PROPERTY TRANSFER ON DEATH ACT|18-C §6-421. Effective date (REPEALED)

 §6-421. Effective date (REPEALED)SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §10 (RP). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 7-103 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 7: TRUST ADMINISTRATION|Part 1: POWERS OF TRUSTEES|18-C §7-103. Qualification of foreign trustee

 §7-103. Qualification of foreign trustee A foreign corporate trustee is required to qualify as a foreign corporation doing business in this State if it maintains the principal place of administration of any trust within the State. A foreign cotrustee is not required to qualify in this State solely because its cotrustee maintains the principal place of administration in this State. Unless otherwise doing business in this State, local qualification by a foreign trustee, corporate or individual, is not required in order for the trustee to receive distribution from a local estate or to hold, invest in, manage or acquire property located in this State or maintain litigation. Nothing in this section affects a determination of what other acts require qualification as doing business in this State.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).
18-C ME Rev Stat § 7-201 (2021)
2021 Maine Revised Statutes|TITLE 18-C: PROBATE CODE|Article 7: TRUST ADMINISTRATION|Part 2: COMMON TRUST FUNDS|18-C §7-201. Definitions; establishment of common trust funds

 §7-201. Definitions; establishment of common trust funds 1.  Definitions.  As used in this Part, unless the context otherwise indicates, the following terms have the following meanings.   A. "Common trust fund" means a trust or fund maintained by a bank or trust company exclusively for the collective investment or reinvestment of money contributed to the trust or fund by the bank or trust company, or an affiliated bank or trust company, as a fiduciary, including a trustee of a trust or fund for the primary purpose of paying employee benefits of any kind.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]B. "Fiduciary" includes a trustee, executor, administrator, guardian and custodian under a uniform transfers to minors act.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).][PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2.  Common trust funds.  A bank or trust company qualified to act as fiduciary in this State may establish and operate common trust funds for the purpose of furnishing investments to itself as fiduciary or to itself and others as cofiduciaries, and for the purposes of furnishing investments to affiliated banks, within the meaning of Section 1504 of the Internal Revenue Code of 1986, acting for themselves and others as cofiduciaries, and the bank or trust company may, as the fiduciary or cofiduciary or acting for affiliated banks alone or with their cofiduciaries, invest funds lawfully held for investment in interests in common trust funds, if the investment is not prohibited by the instrument, judgment, decree or order creating the fiduciary relationship and if, in the case of cofiduciaries, the bank or trust company or affiliate procures the consent of its cofiduciaries to the investment. A person acting as a cofiduciary with the bank or trust company or affiliate is authorized to consent to the investment in the interests.   [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).