reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 4: REPORT BY HOLDER › 33 §2094. Retention of records by holder

§2094. Retention of records by holder
A holder required to file a report under section 2091 shall retain records for 10 years after the date the report was filed or the last date a timely report was due to be filed, whichever is later, unless a shorter period is provided by rule of the administrator. The holder may satisfy the requirement to retain records under this section through an agent. The records must contain:   [PL 2019, c. 498, §22 (NEW).]
1.  Required information.
The information required to be included in the report;
[PL 2019, c. 498, §22 (NEW).]
2.  Date, place, nature of circumstances.
The date, place and nature of the circumstances that gave rise to the property right;
[PL 2019, c. 498, §22 (NEW).]
3.  Amount or value.
The amount or value of the property;
[PL 2019, c. 498, §22 (NEW).]
4.  Last known address of apparent owner.
The last known address of the apparent owner, if known to the holder;
[PL 2019, c. 498, §22 (NEW).]
5.  Items not reported unclaimed.
Records of items that were not reported as unclaimed sufficient to allow examination to determine whether the holder has complied with the Act; and
[PL 2019, c. 498, §22 (NEW).]
6.  Record of outstanding instruments.
If the holder sells, issues or provides to others for sale or issue in this State traveler's checks, money orders or similar instruments, other than 3rd-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 4: REPORT BY HOLDER › 33 §2095. Property reportable and payable or deliverable absent owner demand

§2095. Property reportable and payable or deliverable absent owner demand
Property is reportable and payable or deliverable under this Act even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 5: NOTICE TO APPARENT OWNER OF PROPERTY PRESUMED ABANDONED › 33 §2101. Notice to apparent owner by holder

§2101. Notice to apparent owner by holder
1.  Notice to apparent owner.
Subject to subsection 2, the holder of property presumed abandoned shall send to the apparent owner notice by first class United States mail that complies with section 2102 in a format acceptable to the administrator not more than 180 days nor less than 60 days before filing the report under section 2091 if:
A. The holder has in its records an address for the apparent owner that the holder's records do not disclose to be invalid and is sufficient to direct the delivery of first class United States mail to the apparent owner; and   [PL 2019, c. 498, §22 (NEW).]
B. The value of the property held for an owner in aggregate is $50 or more.   [PL 2019, c. 498, §22 (NEW).]
[RR 2019, c. 1, Pt. A, §48 (COR).]
2.  E-mail.
If an apparent owner has consented to receive e-mail delivery from the holder, the holder shall send the notice described in subsection 1 both by first class United States mail to the apparent owner's last known mailing address and by e-mail, unless the holder believes that the apparent owner's e-mail address is invalid.
[PL 2019, c. 498, §22 (NEW).]
3.  Notice; tax deferred account or security.
The holder of securities presumed abandoned under section 2062, 2063 or 2068 shall send to the apparent owner notice by certified United States mail that complies with section 2102 in a format acceptable to the administrator not less than 60 days before filing the report under section 2091 if:
A. The holder has in its records an address for the apparent owner that the holder's records do not disclose to be invalid and that is sufficient to direct the delivery of United States mail to the apparent owner; and   [PL 2019, c. 498, §22 (NEW).]
B. The value of the property is $1,000 or more.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
4.  Return receipt constitutes record communicated by apparent owner.
In addition to other indications of an apparent owner's interest in property pursuant to section 2070, a signed return receipt in response to a notice sent pursuant to this section by certified United States mail constitutes a record communicated by the apparent owner to the holder concerning the property or the account in which the property is held.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW). RR 2019, c. 1, Pt. A, §48 (COR).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 5: NOTICE TO APPARENT OWNER OF PROPERTY PRESUMED ABANDONED › 33 §2102. Contents of notice by holder

§2102. Contents of notice by holder
1.  Notice heading.
Notice under section 2101 must contain a heading that reads substantially as follows: "Notice. The State of Maine requires us to notify you that your property may be transferred to the custody of the State Treasurer if you do not contact us before (insert date that is 30 days after the date of this notice)."
[PL 2019, c. 498, §22 (NEW).]
2.  Notice contents.
The notice under section 2101 must:
A. Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice;   [PL 2019, c. 498, §22 (NEW).]
B. State that the property will be turned over to the administrator;   [PL 2019, c. 498, §22 (NEW).]
C. State that after the property is turned over to the administrator an apparent owner that seeks return of the property must file a claim with the administrator;   [PL 2019, c. 498, §22 (NEW).]
D. State that property that is not legal tender of the United States may be sold by the administrator; and   [PL 2019, c. 498, §22 (NEW).]
E. Provide instructions that the apparent owner must follow to prevent the holder from reporting and paying or delivering the property to the administrator.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 5: NOTICE TO APPARENT OWNER OF PROPERTY PRESUMED ABANDONED › 33 §2103. Notice by administrator

§2103. Notice by administrator
1.  Website; apparent owners.
The administrator shall maintain a website accessible by the public and electronically searchable that contains the names reported to the administrator of all apparent owners for whom property is being held by the administrator. The administrator may exclude certain properties from publication on this website if reasonable exclusion serves the best interest of the State and the owner of the property.
[PL 2019, c. 498, §22 (NEW).]
2.  Instructions for filing.
The website must include instructions for filing with the administrator a claim to property.
[PL 2019, c. 498, §22 (NEW).]
3.  Other communications and media.
The administrator may use any printed publication, telecommunication, the Internet or other media to inform the public of the existence of unclaimed property held by the administrator.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 5: NOTICE TO APPARENT OWNER OF PROPERTY PRESUMED ABANDONED › 33 §2104. Cooperation among state officers and agencies to locate apparent owner

§2104. Cooperation among state officers and agencies to locate apparent owner
Unless prohibited by law of this State other than this Act, on request of the administrator, each officer, agency, board, commission, division and department of this State, any body politic and corporate created by this State for a public purpose, and each political subdivision of this State shall make its books and records available to the administrator and cooperate with the administrator to determine the current address of an apparent owner of property held by the administrator under this Act or to otherwise assist the administrator in the administration of this Act. The administrator may also enter into data-sharing agreements to enable other governmental agencies to provide an additional notice to apparent owners of property held by the administrator.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2111. Definition of good faith

§2111. Definition of good faith
In this subchapter, payment or delivery of property is made in good faith if a holder:   [PL 2019, c. 498, §22 (NEW).]
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
[PL 2019, c. 498, §22 (NEW).]
2.  Payment or delivery.
Made payment or delivery:
A. In response to a demand by the administrator or administrator's agent; or   [PL 2019, c. 498, §22 (NEW).]
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.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2112. Dormancy charge

§2112. Dormancy charge
1.  Deduct dormancy charge.
A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if:
A. A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and   [PL 2019, c. 498, §22 (NEW).]
B. The holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
2.  Not unconscionable amount.
The amount of the deduction under subsection 1 is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2114. Effect of payment or delivery of property to administrator

§2114. Effect of payment or delivery of property to administrator
1.  No liability of holder on payment or delivery.
On payment or delivery of property to the administrator under this Act, the administrator as agent for the State assumes custody and responsibility for safekeeping the property. A holder that pays or delivers property to the administrator in good faith and substantially complies with sections 2101 and 2102 is relieved of liability arising thereafter with respect to payment or delivery of the property to the administrator.
[PL 2019, c. 498, §22 (NEW).]
2.  State indemnification.
This State shall defend and indemnify a holder against liability on a claim against the holder resulting from the payment or delivery of property to the administrator made in good faith and after the holder substantially complied with sections 2101 and 2102.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2116. Property removed from safe deposit box

§2116. Property removed from safe deposit box
Property removed from a safe deposit box and delivered under this Act to the administrator is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for the box. The administrator shall reimburse the holder from the proceeds remaining after deducting the expense incurred by the administrator in selling the property.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2117. Crediting income or gain to owner's account

§2117. Crediting income or gain to owner's account
1.  Income or gain realized.
If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold. If the property was an interest-bearing demand, savings or time deposit, the administrator shall pay interest at the current 10-year average cash pool rate. Interest is calculated from the date the property is delivered to the administrator and ends on the expiration of 10 years after its delivery or the date on which payment is made to the owner, whichever is earlier.
[PL 2019, c. 498, §22 (NEW).]
2.  Period before effective date.
Interest on interest-bearing property is not payable under this section for any period before the effective date of this Act, unless authorized by former chapter 41.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2118. Administrator's options as to custody

§2118. Administrator's options as to custody
1.  Custody declined.
The administrator may decline to take custody of property reported under section 2091 if the administrator determines that:
A. The property has a value less than the estimated expenses of notice and sale of the property; or   [PL 2019, c. 498, §22 (NEW).]
B. Taking custody of the property would be unlawful.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
2.  Before presumed abandoned.
A holder may pay or deliver property to the administrator before the property is presumed abandoned under this Act if the holder:
A. Provides the apparent owner of the property notice required by section 2101 and provides the administrator evidence of the holder's compliance with this paragraph;   [PL 2019, c. 498, §22 (NEW).]
B. Includes with the payment or delivery a report regarding the property conforming to section 2092; and   [PL 2019, c. 498, §22 (NEW).]
C. First obtains the administrator's consent in a record to accept payment or delivery. The holder's request must be in writing.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
3.  Presumed abandoned.
On payment or delivery of property under subsection 2, the property is presumed abandoned.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2119. Disposition of property having no substantial value; immunity from liability

§2119. Disposition of property having no substantial value; immunity from liability
1.  Return to holder.
If the administrator takes custody of property delivered under this Act and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property.
[PL 2019, c. 498, §22 (NEW).]
2.  Immunity from liability.
An action or proceeding may not be commenced against the State, an agency of the State, the administrator, another officer, employee or agent of the State or a holder for or because of an act of the administrator under this section, except for intentional misconduct or malfeasance.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 6: TAKING CUSTODY OF PROPERTY BY ADMINISTRATOR › 33 §2120. Periods of limitation and repose

§2120. Periods of limitation and repose
1.  Holder's duty to pay or deliver.
Expiration, before, on or after October 1, 2019, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder under this Act to file a report or pay or deliver property to the administrator.
[PL 2019, c. 498, §22 (NEW).]
2.  Proceeding within 5 years after nonfraudulent report.
The administrator may not commence an action or proceeding to enforce this Act with respect to the reporting, payment or delivery of property more than 5 years after the holder filed a nonfraudulent report under section 2091 with the administrator. The parties may agree in a record to extend the limitation in this subsection.
[PL 2019, c. 498, §22 (NEW).]
3.  Proceeding within 10 years after duty arose
The administrator may not commence an action, proceeding or examination with respect to a duty of a holder under this Act more than 10 years after the duty arose.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 7: SALE OF PROPERTY BY ADMINISTRATOR › 33 §2131. Public sale of property

§2131. Public sale of property
1.  Sale after one year.
Subject to section 2132, not earlier than one year after receipt of property presumed abandoned, the administrator may sell the property.
[PL 2019, c. 498, §22 (NEW).]
2.  Notice of sale.
Before selling property under subsection 1, the administrator shall give notice to the public of:
A. The date of the sale; and   [PL 2019, c. 498, §22 (NEW).]
B. The nature of the property.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
3.  Sale to highest bidder.
A sale under subsection 1 must be to the highest bidder:
A. At public sale at a location in this State that the administrator determines to be the most favorable market for the property;   [PL 2019, c. 498, §22 (NEW).]
B. On the Internet; or   [PL 2019, c. 498, §22 (NEW).]
C. On another forum the administrator determines is likely to yield the highest net proceeds of sale.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
4.  Highest bid insufficient.
The administrator may decline the highest bid at a sale under this section and reoffer the property for sale if the administrator determines the highest bid is insufficient.
[PL 2019, c. 498, §22 (NEW).]
5.  Publication of notice.
If a sale held under this section is to be conducted other than on the Internet, the administrator may publish at least one notice of the sale, at least 2 weeks but not more than 10 weeks before the sale.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 7: SALE OF PROPERTY BY ADMINISTRATOR › 33 §2132. Disposal of securities

§2132. Disposal of securities
1.  Sell or liquidate security after one year.
Except as provided in section 2155, subsection 1, the administrator may not sell or otherwise liquidate a security until one year after the administrator receives the security.
[PL 2019, c. 498, §22 (NEW).]
2.  Price of security.
The administrator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 7: SALE OF PROPERTY BY ADMINISTRATOR › 33 §2133. Recovery of securities or value by owner

§2133. Recovery of securities or value by owner
1.  Claim for securities sold before one year after delivery.
If securities are sold by the administrator before the expiration of one year after their delivery to the administrator, a person making a claim under this Act before the end of the one-year period is entitled to the proceeds of the sale of the securities or the market value of the securities at the time the claim is made, whichever is greater, plus dividends, interest and other increments thereon up to the time the claim is made, less any deduction for expenses of sale. A person making a claim under this Act after the expiration of the one-year period is entitled to receive the securities delivered to the administrator by the holder, if the securities remain in the custody of the administrator, or the net proceeds received from sale and is not entitled to receive any appreciation in the value of the property occurring after delivery to the administrator, except in a case of intentional misconduct or malfeasance by the administrator.
[PL 2019, c. 498, §22 (NEW).]
2.  Claim for securities of a single issue.
Notwithstanding this section, the administrator may sell the securities of any single issue for which custodial costs are likely to exceed value 90 days or more after the securities have been published pursuant to section 2103. A person making a claim under this Act after the securities have been sold is entitled only to the net proceeds received from the sale.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 7: SALE OF PROPERTY BY ADMINISTRATOR › 33 §2134. Purchaser owns property after sale

§2134. Purchaser owns property after sale
A purchaser of property at a sale conducted by the administrator under this Act takes the property free of all claims of the owner, a previous holder or a person claiming through the owner or holder. The administrator shall execute documents necessary to complete the transfer of ownership to the purchaser.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 7: SALE OF PROPERTY BY ADMINISTRATOR › 33 §2135. Military medal or decoration

§2135. Military medal or decoration
1.  Sale prohibited.
The administrator may not sell a medal or decoration awarded for military service in the Armed Forces of the United States.
[PL 2019, c. 498, §22 (NEW).]
2.  Delivery of medal or decoration.
The administrator, with the consent of the respective organization under paragraph A, agency under paragraph B or entity under paragraph C, may deliver a medal or decoration described in subsection 1, to be held in custody for the owner, to:
A. A military veterans' organization qualified under the federal Internal Revenue Code of 1986, 26 United States Code, Section 501(c)(19), as amended;   [PL 2019, c. 498, §22 (NEW).]
B. The agency that awarded the medal or decoration; or   [PL 2019, c. 498, §22 (NEW).]
C. A governmental entity.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
3.  Not responsible after delivery.
On delivery under subsection 2, the administrator is not responsible for safekeeping the medal or decoration.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 8: ADMINISTRATION OF PROPERTY › 33 §2141. Deposit of funds by administrator

§2141. Deposit of funds by administrator
1.  Unclaimed Property Fund.
The administrator shall deposit in the Unclaimed Property Fund all funds received under this Act, including proceeds from the sale of property under subchapter 7. The Unclaimed Property Fund is a permanent account and may not lapse, but must be carried forward.
[PL 2019, c. 498, §22 (NEW).]
2.  Payment of claims from Unclaimed Property Fund.
The administrator shall make prompt payment of claims the administrator duly allows as provided for in this Act from the Unclaimed Property Fund under subsection 1. This shall constitute an irrevocable and continuing appropriation of all amounts in the Unclaimed Property Fund necessary to make prompt payment of claims duly allowed by the administrator pursuant to this Act.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 8: ADMINISTRATION OF PROPERTY › 33 §2142. Administrator to retain records of property

§2142. Administrator to retain records of property
The administrator shall:   [PL 2019, c. 498, §22 (NEW).]
1.  Name and address of apparent owners.
Record and retain the name and last known address of each person shown on a report filed under section 2091 to be the apparent owner of property delivered to the administrator;
[PL 2019, c. 498, §22 (NEW).]
2.  Name and address of insureds, annuitants and beneficiaries.
Record and retain the name and last known address of each insured or annuitant and beneficiary shown on the report;
[PL 2019, c. 498, §22 (NEW).]
3.  Policy or account number, company and amount.
For each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company and the amount due or paid; and
[PL 2019, c. 498, §22 (NEW).]
4.  Holder that filed report.
For each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 8: ADMINISTRATION OF PROPERTY › 33 §2143. Expenses and service charges of administrator

§2143. Expenses and service charges of administrator
Before making a deposit of funds received under this Act to the Unclaimed Property Fund under section 2141, the administrator may deduct:   [PL 2019, c. 498, §22 (NEW).]
1.  Expenses of disposition of property.
Expenses of disposition of property delivered to the administrator under this Act;
[PL 2019, c. 498, §22 (NEW).]
2.  Costs of mailing and publication.
Costs of mailing and publication in connection with property delivered to the administrator under this Act;
[PL 2019, c. 498, §22 (NEW).]
3.  Reasonable service charges.
Reasonable service charges; and
[PL 2019, c. 498, §22 (NEW).]
4.  Expenses incurred.
Expenses incurred in examining records of or collecting property from a putative holder or holder.
[PL 2019, c. 498, §22 (NEW).]
At the end of each year or more often, the administrator shall transfer to the General Fund all money in the Unclaimed Property Fund under section 2141 that is in excess of $500,000.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 8: ADMINISTRATION OF PROPERTY › 33 §2144. Administrator holds property as custodian for owner

§2144. Administrator holds property as custodian for owner
Except as provided in section 2072, property received by the administrator under this Act is held in custody for the benefit of the owner and is not owned by the State.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2151. Claim of another state to recover property

§2151. Claim of another state to recover property
1.  Subject to superior claim of another state.
If the administrator knows that property held by the administrator under this Act is subject to a superior claim of another state, the administrator shall:
A. Report and pay or deliver the property to the other state; or   [PL 2019, c. 498, §22 (NEW).]
B. Return the property to the holder so that the holder may pay or deliver the property to the other state.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
2.  Agreement to transfer not required.
The administrator is not required to enter into an agreement to transfer property to the other state under subsection 1.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2152. When property subject to recovery by another state

§2152. When property subject to recovery by another state
1.  Subject to right of another state.
Property held under this Act by the administrator is subject to the right of another state to take custody of the property if:
A. The property was paid or delivered to the administrator because the records of the holder did not reflect a last known address in the other state of the apparent owner and:
(1) The other state establishes that the last known address of the apparent owner or other person entitled to the property was in the other state; or
(2) Under the law of the other state, the property has become subject to a claim by the other state of abandonment;   [PL 2019, c. 498, §22 (NEW).]
B. The records of the holder did not accurately identify the owner of the property, the last known address of the owner was in another state and, under the law of the other state, the property has become subject to a claim by the other state of abandonment;   [PL 2019, c. 498, §22 (NEW).]
C. The property was subject to the custody of the administrator under section 2085 and, under the law of the state of domicile of the holder, the property has become subject to a claim by the state of domicile of the holder of abandonment; or   [PL 2019, c. 498, §22 (NEW).]
D. The property:
(1) Is a sum payable on a traveler's check, money order or similar instrument that was purchased in the other state and delivered to the administrator under section 2086; and
(2) Under the law of the other state, has become subject to a claim by the other state of abandonment.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
2.  Form prescribed.
A claim by another state to recover property under this section must be presented in a form prescribed by the administrator, unless the administrator waives presentation of the form.
[PL 2019, c. 498, §22 (NEW).]
3.  Decision within 90 days.
The administrator shall decide a claim under this section not later than 90 days after it is presented. If the administrator determines that the other state is entitled under subsection 1 to custody of the property, the administrator shall allow the claim and pay or deliver the property to the other state.
[PL 2019, c. 498, §22 (NEW).]
4.  May require indemnification.
The administrator may require another state, before recovering property under this section, to agree to indemnify this State and its agents, officers and employees against any liability on a claim to the property.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2153. Claim for property by person claiming to be owner

§2153. Claim for property by person claiming to be owner
1.  Claim for property.
A person claiming to be the owner of property held under this Act by the administrator may file a claim for the property on a form prescribed by the administrator. The claimant must verify the claim as to its completeness and accuracy.
[PL 2019, c. 498, §22 (NEW).]
2.  Waive; pay or deliver directly.
The administrator may waive the requirement in subsection 1 and may pay or deliver property directly to a person if:
A. The person receiving the property or payment is shown to be the apparent owner included on a report filed under section 2091; and   [PL 2019, c. 498, §22 (NEW).]
B. The administrator reasonably believes the person is entitled to receive the property or payment.   [PL 2019, c. 498, §22 (NEW).]
If a claimant has an agreement pursuant to subchapter 13 with a professional investigator licensed under Title 32, chapter 89, the administrator shall deliver the payment or property to the professional investigator.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2154. When administrator must honor claim for property

§2154. When administrator must honor claim for property
1.  Administrator shall pay claim.
The administrator shall pay or deliver property to a claimant under section 2153, subsection 1 if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
[PL 2019, c. 498, §22 (NEW).]
2.  Approve or deny claim within 90 days.
Not later than 90 days after a claim is filed and completed under section 2153, subsection 1, the administrator shall approve or deny the claim and give the claimant, or professional investigator licensed under Title 32, chapter 89 under an agreement with the claimant pursuant to subchapter 13, notice in a record of the decision. A claim is complete when a claimant has provided all the information and documentation requested by the administrator necessary to prove legal ownership of the property.
[PL 2019, c. 498, §22 (NEW).]
3.  Claim denied; procedure; amended claim.
If the claim is denied under subsection 2:
A. The administrator shall inform the claimant, or professional investigator under an agreement with the claimant pursuant to subchapter 13, of the reason for the denial; and   [PL 2019, c. 498, §22 (NEW).]
B. The claimant, or professional investigator under an agreement with the claimant pursuant to subchapter 13, may file an amended claim with the administrator or commence an action under section 2156.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
4.  Claim deemed denied.
If the administrator does not take action on a claim during the 90-day period under subsection 2, the claim is deemed denied.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2155. Allowance of claim for property

§2155. Allowance of claim for property
1.  Pay or deliver within 30 days.
Not later than 30 days after a claim is approved under section 2154, subsection 2, the administrator shall pay or deliver to the owner the property or pay to the owner the net proceeds of a sale of the property, together with income or gain to which the owner is entitled under section 2117. If a claimant has an agreement pursuant to subchapter 13 with a professional investigator licensed under Title 32, chapter 89, the administrator shall deliver the payment or property to the professional investigator. On request of the owner, the administrator may sell or liquidate a security and pay the net proceeds to the owner, even if the security had been held by the administrator for less than one year or the administrator has not complied with the notice requirements under section 2131.
[PL 2019, c. 498, §22 (NEW).]
2.  Subject to claim.
Property held under this Act by the administrator is subject to a claim for the payment of an enforceable debt the owner owes in this State for:
A. Child support arrearages, including child support collection costs and child support arrearages that are combined with maintenance;   [PL 2019, c. 498, §22 (NEW).]
B. A final court judgment; or   [PL 2019, c. 498, §22 (NEW).]
C. State or federal taxes, penalties and interest that have been determined to be delinquent by the relevant tax authority.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 9: CLAIM TO RECOVER PROPERTY FROM ADMINISTRATOR › 33 §2156. Action by person whose claim is denied

§2156. Action by person whose claim is denied
Not later than one year after being denied a claim under section 2154, the claimant may commence an action against the administrator in the Superior Court of Kennebec County to establish a claim.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2161. Verified report of property

§2161. Verified report of property
If a person does not file a report required by section 2091 or the administrator believes that a person may have filed an inaccurate, incomplete or false report, the administrator may require the person to file a verified report in a form prescribed by the administrator. The verified report must:   [PL 2019, c. 498, §22 (NEW).]
1.  Reportable property.
State whether the person is holding property reportable under this Act;
[PL 2019, c. 498, §22 (NEW).]
2.  Describe property.
Describe property not previously reported or about which the administrator has inquired;
[PL 2019, c. 498, §22 (NEW).]
3.  Specifically identify disputed property.
Specifically identify property described under subsection 2 about which there is a dispute whether it is reportable under this Act; and
[PL 2019, c. 498, §22 (NEW).]
4.  Amount or value.
State the amount or value of the property.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2162. Examination of records to determine compliance

§2162. Examination of records to determine compliance
The administrator, at reasonable times and on reasonable notice, may:   [PL 2019, c. 498, §22 (NEW).]
1.  Examine records.
Examine the records of a person, including examination of appropriate records in the possession of an agent of the person under examination, if the records are reasonably necessary to determine whether the person has complied with this Act;
[PL 2019, c. 498, §22 (NEW).]
2.  Issue administrative subpoena.
Issue an administrative subpoena requiring the person under subsection 1 or agent of the person to make records available for examination;
[PL 2019, c. 498, §22 (NEW).]
3.  Examination even if person believes not in possession.
The administrator may conduct the examination under subsection 1 even if the person believes it is not in possession of any property that must be reported, paid or delivered under this Act; and
[PL 2019, c. 498, §22 (NEW).]
4.  Bring enforcement action.
Bring an action seeking judicial enforcement of the subpoena under subsection 2.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2163. Rules for conducting examination

§2163. Rules for conducting examination
The administrator may adopt rules governing procedures and standards for an examination under section 2162.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2164. Records obtained in examination

§2164. Records obtained in examination
Records obtained and records compiled, including work papers, by the administrator in the course of conducting an examination under section 2162:   [PL 2019, c. 498, §22 (NEW).]
1.  Confidentiality and security provisions.
Are subject to the confidentiality and security provisions of subchapter 14 and are not public records;
[PL 2019, c. 498, §22 (NEW).]
2.  Use to collect property, enforce the Act.
May be used by the administrator in an action to collect property or otherwise enforce this Act;
[PL 2019, c. 498, §22 (NEW).]
3.  Use in joint examination.
May be used in a joint examination conducted with another state, the United States, a foreign country or subordinate unit of a foreign country, or any other governmental entity if the governmental entity conducting the examination is legally bound to maintain the confidentiality and security of information obtained from a person subject to examination in a manner substantially equivalent to that under subchapter 14;
[PL 2019, c. 498, §22 (NEW).]
4.  Disclosure.
Must be disclosed, on request, to the person that administers the unclaimed property law of another state for that state's use in circumstances equivalent to circumstances described in this subchapter, if the other state is required to maintain the confidentiality and security of information obtained in a manner substantially equivalent to that under subchapter 14;
[PL 2019, c. 498, §22 (NEW).]
5.  Produced pursuant to subpoena.
Must be produced by the administrator under an administrative or judicial subpoena or administrative or court order; and
[PL 2019, c. 498, §22 (NEW).]
6.  Produced upon request in proceeding.
Must be produced by the administrator on request of the person subject to the examination in an administrative or judicial proceeding relating to the property.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2165. Evidence of unpaid debt or undischarged obligation

§2165. Evidence of unpaid debt or undischarged obligation
1.  Prima facie evidence of debt or obligation.
A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation.
[PL 2019, c. 498, §22 (NEW).]
2.  Preponderance of evidence.
A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for a debt or obligation described in subsection 1 or that the debt or obligation was not, or no longer is, a fixed and certain obligation of the putative holder.
[PL 2019, c. 498, §22 (NEW).]
3.  Overcome prima facie evidence.
A putative holder may overcome prima facie evidence under subsection 1 by establishing by a preponderance of the evidence that a check, draft or similar instrument was:
A. Issued as an unaccepted offer in settlement of an unliquidated amount;   [PL 2019, c. 498, §22 (NEW).]
B. Issued but later was replaced with another instrument because the earlier instrument was lost or contained an error that was corrected;   [PL 2019, c. 498, §22 (NEW).]
C. Issued to a party affiliated with the issuer;   [PL 2019, c. 498, §22 (NEW).]
D. Paid, satisfied or discharged;   [PL 2019, c. 498, §22 (NEW).]
E. Issued in error;   [PL 2019, c. 498, §22 (NEW).]
F. Issued without consideration;   [PL 2019, c. 498, §22 (NEW).]
G. Issued but there was a failure of consideration;   [PL 2019, c. 498, §22 (NEW).]
H. Voided not later than 90 days after issuance for a valid business reason set forth in a contemporaneous record; or   [PL 2019, c. 498, §22 (NEW).]
I. Issued but not delivered to a 3rd-party payee for a sufficient reason recorded within a reasonable time after issuance.   [PL 2019, c. 498, §22 (NEW).]
[PL 2019, c. 498, §22 (NEW).]
4.  Evidence of course of dealing.
In asserting a defense under this section, and subject to section 2094, a putative holder may present evidence of a course of dealing between the putative holder and the apparent owner.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2166. Failure of person examined to retain records

§2166. Failure of person examined to retain records
If a person subject to examination under section 2162 does not retain the records as required by section 2094, the administrator may determine the value of property due using a reasonable method of estimation based on all information available to the administrator, including extrapolation and use of statistical sampling when appropriate and necessary, consistent with examination procedures and standards adopted under and in accordance with section 2163.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2167. Report to person whose records were examined

§2167. Report to person whose records were examined
At the conclusion of an examination under section 2162, upon request, the administrator shall provide to the person whose records were examined a report that specifies:   [PL 2019, c. 498, §22 (NEW).]
1.  Work performed.
The work performed;
[PL 2019, c. 498, §22 (NEW).]
2.  Property types.
The property types reviewed;
[PL 2019, c. 498, §22 (NEW).]
3.  Methodology.
The methodology of any estimation technique, extrapolation or statistical sampling used in conducting the examination;
[PL 2019, c. 498, §22 (NEW).]
4.  Calculation.
Each calculation showing the value of property determined to be due; and
[PL 2019, c. 498, §22 (NEW).]
5.  Findings.
The findings of the person conducting the examination.
[PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2168. Complaint to administrator about conduct of person conducting examination

§2168. Complaint to administrator about conduct of person conducting examination
If a person subject to examination under section 2162 believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person in a record may ask the administrator to intervene and take appropriate remedial action, including countermanding the request of the person conducting the examination, imposing a time limit for completion of the examination or reassigning the examination to another person. The administrator shall respond to all such requests within 30 days of receipt of the complaint.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).
2023 Maine Revised Statutes › TITLE 33: PROPERTY › Chapter 45: MAINE REVISED UNCLAIMED PROPERTY ACT › Subchapter 10: VERIFIED REPORT OF PROPERTY; EXAMINATION OF RECORDS › 33 §2169. Administrator's contract to conduct examination

§2169. Administrator's contract to conduct examination
The administrator may contract with a person to conduct an examination under this subchapter.   [PL 2019, c. 498, §22 (NEW).]
SECTION HISTORY
PL 2019, c. 498, §22 (NEW).