Maine § 33 §2066 When stored-value obligation presumed abandoned

Maine Statutes

§ 33 §2066 — When stored-value obligation presumed abandoned

Maine § 33 §2066

Title 33PROPERTY

Ch. 45MAINE REVISED UNCLAIMED PROPERTY ACT

This text of Maine § 33 §2066 (When stored-value obligation presumed abandoned) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 33, § 33 §2066 (2026).

Text

1.Presumed abandoned after 3 years. Subject to section 2070, the net obligation value of a stored-value obligation is presumed abandoned on the latest of 3 years after:

2.Amount presumed abandoned. The amount presumed abandoned in a stored-value obligation is the net obligation value at the time it is presumed abandoned.

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 obligati

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1.
Presumed abandoned after 3 years.
Subject to section 2070, the net obligation value of a stored-value obligation is presumed abandoned on the latest of 3 years after:
2.
Amount presumed abandoned.
The amount presumed abandoned in a stored-value obligation is the net obligation value at the time it is presumed abandoned.
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.
4.
Redemption; balance in cash.
If a stored-value obligation is redeemed in person and a balance of less than $5 remains following redemption, at the consumer's request the merchant redeeming the stored-value obligation must refund the balance in cash to the consumer. This subsection does not apply to a stored-value obligation with an initial value of $5 or less, or a stored-value obligation that is not purchased but provided as a promotion or as a refund for merchandise returned without a receipt.