| Be it enacted by the People of the State of Maine as follows: |
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| | Sec. 1. 33 MRSA §1953, sub-§1, ¶G, as enacted by PL 1997, c. 508, Pt. | A, §2 and affected by §3, is amended to read: |
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| G. A gift certificate, 3 years after December 31st of the | year in which the certificate was sold; the amount abandoned | is the price paid by the purchaser for the gift certificate | deemed to be 60% of the certificate's face value; |
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| | In 1997, the State adopted the provisions of the 1995 Uniform | Unclaimed Property Act of 1995, with one exception. The 1995 | Uniform Act provides for redemption of gift certificates at 60% | of a gift certificate's face value while state law requires | redemption at 100% of face value. |
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| | This bill conforms current law to the Uniform Unclaimed | Property Act of 1995 by removing that exception. |
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