Maine § 2094. - Retention of records by holder

§ 2094.. Retention of records by holder

A holder required to file a report under section 2091 shall retain records for 10 years after the date the report was filed or the last date a timely report was due to be filed, whichever is later, unless a shorter period is provided by rule of the administrator. The holder may satisfy the requirement to retain records under this section through an agent. The records must contain:   [PL 2019, c. 498, §22 (NEW).]

1.  Required information.  The information required to be included in the report;

2.  Date, place, nature of circumstances.  The date, place and nature of the circumstances that gave rise to the property right;

3.  Amount or value.  The amount or value of the property;

4.  Last known address of apparent owner.  The last known address of the apparent owner, if known to the holder;

5.  Items not reported unclaimed.  Records of items that were not reported as unclaimed sufficient to allow examination to determine whether the holder has complied with the Act; and

6.  Record of outstanding instruments.  If the holder sells, issues or provides to others for sale or issue in this State traveler's checks, money orders or similar instruments, other than 3rd-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue.