United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 33, § 2112: Dormancy charge, 2019

A holder may deduct a dormancy charge from property payable or deliverable to the administrator if a valid contract authorizes it, the charge is regularly imposed and not regularly reversed, and the amount is not…

contractual charge limitsdormancy chargeproperty delivery

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01

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“A holder may deduct a dormancy charge from property payable or deliverable to the administrator if a valid contract authorizes it, the charge is regularly imposed and not regularly reversed, and the amount is not unconscionable.”

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    Enacted 2019 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Dormancy charge

A holder may deduct a dormancy charge from property payable or deliverable to the administrator if a valid contract authorizes it, the charge is regularly imposed and not regularly reversed, and the amount is not unconscionable.

Section 2112

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Source record from legislature.maine.gov · Enacted 2019 · Source version 1 Oct 2025

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Provision
§ 2112Dormancy chargeProvision

A holder may deduct a dormancy charge from property payable or deliverable to the administrator if a valid contract authorizes it, the charge is regularly imposed and not regularly reversed, and the amount is not unconscionable.

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).]
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  • 1 Oct 2025 · currentEnglish

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