Bill > LD640

This bill modifies existing Maine state law regarding court-ordered funds and interest payments. Specifically, the bill requires that when courts order funds to be paid to a claimant, the clerk must inform all parties that a 5% fee will be assessed on accrued interest. The nonprevailing party is responsible for paying this fee to the court, with a maximum cap of $1,000. The bill also clarifies that if funds remain unclaimed for 20 years, the clerk must obtain a court order to advertise the details in a local newspaper for three weeks. If no one claims the funds within 60 days after the last publication, the money will be forfeited to the State and paid to the State Treasurer. The language changes are primarily technical, replacing words like "shall" with "must" and making minor grammatical adjustments to the existing statute. The core purpose of the bill appears to be establishing clear guidelines for handling unclaimed court-ordered funds and implementing a standardized fee structure for processing such funds.

Justice

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=640&snum=132