33 §2118. Administrator's options as to custody

33 ME Rev Stat § 2118 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

§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).

Previous Section

33 §2117. Crediting income or gain to owner's account

Next Section

33 §2119. Disposition of property having no substantial value; immunity from liability