APPROVED CHAPTER
APRIL 7, 2021 41
BY GOVERNOR PUBLIC LAW
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-ONE
_____
H.P. 304 - L.D. 420
An Act To Amend the Maine Revised Unclaimed Property Act
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 33 MRSA §2066, sub-§3, as enacted by PL 2019, c. 498, §22, is amended
to read:
3. No period of limitation, limited charges or fees; exceptions, disclosure.
Notwithstanding section 2112, fees, charges or a period of limitation may not be imposed
on stored-value obligations, except that the issuer may charge a transaction fee for the
initial issuance and for each occurrence of adding value to an existing stored-value
obligation. These fees must be disclosed in a separate writing prior to the initial issuance
or referenced on the stored-value obligation. Fee restrictions do not apply to any stored-
value obligation that enables the holder to transfer the underlying funds to multiple
unaffiliated merchants at the merchants' point-of-sale terminals or online or at an automated
teller machine.
Sec. 2. 33 MRSA §2070, sub-§2, ¶E, as enacted by PL 2019, c. 498, §22, is
amended to read:
E. A deposit into or withdrawal from an account at a financial organization by the
apparent owner, including an automatic withdrawal previously authorized or but not
including an automatic reinvestment of dividends or interest or an automatic
withdrawal of disclosed fees;
Page 1 - 130LR1538(03)


Statutes affected:
Bill Text LD 420, HP 304: 33.2066, 33.2070
Bill Text ACTPUB , Chapter 41: 33.2066, 33.2070