An Act To Make Changes to the Laws Regarding Notice and Publication of Unclaimed Property
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 33 MRSA §1960, as amended by PL 2003, c. 20, Pt. T, §26, is further amended to read:
§ 1960. Notice and publication of unclaimed property
1. Publication. The administrator shall publish a notice no later than November 30th of the year next following the year in which unclaimed property has been paid or delivered to the administrator. The notice must be published in a newspaper of general circulation in this State. The advertisement must be in a form that, in the judgment of the administrator, is likely to attract the attention of the apparent owner of the unclaimed property. The form must contain:
A. The name of each person appearing to be the owner of the property, as set forth in the report filed by the holder;
B. The municipality of the last known address or location of each person appearing to be the owner of the property, if an address or location is set forth in the report filed by the holder;
C. A statement explaining that property of the owner is presumed to be abandoned and has been taken into the protective custody of the administrator; and
D. A statement that information about the property and its return to the owner is available to a person having a legal or beneficial interest in the property, upon request to the administrator.
2. Publication not required. The administrator is not required to advertise the name and address or location of an owner of property having a total value less than $250 or information concerning a traveler's check, money order or similar instrument.
summary
This bill amends the Uniform Unclaimed Property Act to remove the requirement that the Treasurer of State publish in a newspaper of general circulation in Maine a notice of unclaimed property that has been paid or delivered to the treasurer.