Maine § 2112. - Dormancy charge
Full text of Maine Maine Revised Statutes § 2112. — Dormancy charge, with citation guidance and answers to common questions.
§ 2112.. Dormancy charge
1. Deduct dormancy charge. A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if:
A. A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and [PL 2019, c. 498, §22 (NEW).]
B. The holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge. [PL 2019, c. 498, §22 (NEW).]
2. Not unconscionable amount. The amount of the deduction under subsection 1 is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.
Frequently Asked Questions About Maine § 2112.
What does Maine Revised Statutes § 2112. cover?
Section 2112. ("Dormancy charge") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 2112.?
A common citation format is "Maine Revised Statutes § 2112." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 2112. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.