{"data":{"id":"us-me/33-m.r.s.-2061","jurisdiction":"us-me","citation":"33 M.R.S. §2061","heading":"When property presumed abandoned","body":"Subject to section 2070, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified:\n1.  Traveler's check.  A traveler's check, 15 years after issuance;\n2.  Money order.  A money order, 7 years after issuance;\n3.  State or municipal bond.  A state or municipal bond, bearer bond or original issue discount bond, 3 years after the date the bond matures or is called or the obligation to pay the principal of the bond arises, whichever is earlier;\n4.  Debt of a business association.  A debt of a business association, 3 years after the obligation to pay arises;\n5.  Payroll card or demand, savings or time deposit.  A payroll card or demand, savings or time deposit, including a deposit that is automatically renewable, 3 years after the maturity of the deposit, except that a deposit that is automatically renewable is deemed matured on its initial date of maturity unless the apparent owner consented in a record on file with the holder to renewal at or about the time of the renewal;\n6.  Money or credit owed.  Money or a credit owed to a customer as a result of a retail business transaction, 3 years after the obligation arose;\n7.  Amount owed on insurance policy or annuity contract.  An amount owed by an insurance company on a life or endowment insurance policy or an annuity contract that has matured or terminated, 3 years after the obligation to pay arose under the terms of the policy or contract or, if a policy or contract for which an amount is owed on proof of death has not matured by proof of the death of the insured or annuitant:\nA.  With respect to an amount owed on a life or endowment insurance policy, 3 years after the earlier of the date:\n(1)  The insurance company has knowledge of the death of the insured; and\n(2)  The insured has attained, or would have attained if living, the limiting age under the mortality table on which the reserve for the policy is based; and\nB.  With respect to an amount owed on an annuity contract, 3 years after the date the insurance company has knowledge of the death of the annuitant;\n8.  Distributable property.  Property distributable by a business association in the course of dissolution, one year after the property becomes distributable;\n9.  Property held by a court.  Property held by a court, including property received as proceeds of a class action, one year after the property becomes distributable;\n10.  Property held by a government.  Property held by a government or governmental subdivision, agency or instrumentality, including municipal bond interest and unredeemed principal under the administration of a paying agent or indenture trustee, one year after the property becomes distributable;\n11.  Wages, commissions, bonuses or reimbursements.  Wages, commissions, bonuses or reimbursements to which an employee is entitled or other compensation for personal services, one year after the amount becomes payable;\n12.  Deposit or refund owed by a utility.  A deposit or refund, other than an abandoned capital credit as defined in Title 35‑A, section 3503, subsection 2, paragraph A, owed to a subscriber by a utility, one year after the deposit or refund becomes payable;\n13.  Prearranged funeral or burial plan.  Notwithstanding subsection 5, property contained in a prearranged funeral or burial plan described in Title 32, section 1401, including deposits containing funds from such a plan, 3 years after the death of a person on whose behalf funds were paid into the plan;\n14.  Nonactivated stored-value obligation or electronic payment medium.  Funds represented by a nonactivated stored-value obligation or other nonactivated electronic payment medium that require activation for use, one year after the funds would have otherwise first been available to the owner; and\n15.  Property not specified.  Property not specified in this section or sections 2062 to 2072, including funds in a lawyer's trust account, 3 years after the owner first has a right to demand the property or the obligation to pay or distribute the property arises, whichever is earlier.","path":["TITLE 33: PROPERTY","CHAPTER 45: MAINE REVISED UNCLAIMED PROPERTY ACT","SUBCHAPTER 2: PRESUMPTION OF ABANDONMENT"],"source_url":"https://legislature.maine.gov/statutes/33/title33sec2061.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:39Z","sha256":"e7c89e998120176d27d48a2152ba5e3bdc715c583061b3c2b140139b04a770bb","source_id":"us-me","stale":false,"prev":"us-me/33-m.r.s.-2054","next":"us-me/33-m.r.s.-2062"},"notice":"GroundRules: Original legal text. Not legal advice."}