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Current as of January 01, 2022 | Updated by FindLaw Staff
1 to 7. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
7-A. Lawyer's trust account. “Lawyer's trust account” means a pooled trust account managed pursuant to rules adopted by the Supreme Judicial Court that earns interest or dividends at an eligible institution in which a lawyer or law firm holds funds on behalf of a client or clients. These funds are small in amount or held for a short period of time, such that the funds cannot earn interest or dividends for the client in excess of the costs incurred to secure such interest or dividends. For the purpose of this subsection, “eligible institution” means a financial organization meeting the requirements in rules adopted by the Supreme Judicial Court.
7-A. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
7-B. Lawyer's trust account program manager. “Lawyer's trust account program manager” means an entity designated by the Supreme Judicial Court to manage the lawyer's trust account program adopted by the Supreme Judicial Court.
7-B. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
8 to 12-A. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
13. Property. “Property” means tangible property described in section 1954 or a fixed and certain interest in intangible property that is held, issued or owed in the course of a holder's business or by a government, governmental subdivision, agency or instrumentality and all income or increments therefrom. “Property” includes property that is referred to as or evidenced by:
A. Money, a check, draft, deposit, interest or dividend;
B. Credit balance, customer's overpayment, gift certificate, gift obligation, prefunded bank card, stored-value card, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds or unidentified remittance;
C. Stock or other evidence of ownership of an interest in a business association or financial organization;
D. a bond, debenture, note or other evidence of indebtedness;
E. Money deposited to redeem stocks, bonds, coupons or other securities or to make distributions;
F. An amount due and payable under the terms of an annuity or insurance policy, including policies providing life insurance, property and casualty insurance, workers' compensation insurance or health and disability insurance;
G. An amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance or similar benefits; and
H. Funds in a lawyer's trust account.
13. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
14 to 16. Repealed. Laws 2019, c. 498, § 21, eff. Sept. 19, 2019.
Cite this article: FindLaw.com - Maine Revised Statutes Title 33. Property § 1952. Definitions - last updated January 01, 2022 | https://codes.findlaw.com/me/title-33-property/me-rev-st-tit-33-sect-1952/
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