Maine § 33 §2194 Interest and penalty for failure to act in timely manner

Maine Statutes

§ 33 §2194 — Interest and penalty for failure to act in timely manner

Maine § 33 §2194

Title 33PROPERTY

Ch. 45MAINE REVISED UNCLAIMED PROPERTY ACT

This text of Maine § 33 §2194 (Interest and penalty for failure to act in timely manner) 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 §2194 (2026).

Text

1.Interest. A holder that fails to report, pay or deliver property within the time prescribed by this Act shall pay to the administrator interest at an annual rate of 18%, or 10% above the annual rate of discount in effect on the date the property should have been paid or delivered for the most recent issue of 52-week United States Treasury bills, on the property or value thereof from the date the property should have been reported, paid or delivered.

2.Civil penalty. Except as otherwise provided in section 2195 or 2196, the administrator may require a holder that fails to report, pay or deliver property within the time prescribed by this Act to pay to the administrator, in addition to interest included under subsection 1, a civil penalty of $200 for each day the duty is not performed, u

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1.
Interest.
A holder that fails to report, pay or deliver property within the time prescribed by this Act shall pay to the administrator interest at an annual rate of 18%, or 10% above the annual rate of discount in effect on the date the property should have been paid or delivered for the most recent issue of 52-week United States Treasury bills, on the property or value thereof from the date the property should have been reported, paid or delivered.
2.
Civil penalty.
Except as otherwise provided in section 2195 or 2196, the administrator may require a holder that fails to report, pay or deliver property within the time prescribed by this Act to pay to the administrator, in addition to interest included under subsection 1, a civil penalty of $200 for each day the duty is not performed, up to a cumulative maximum amount of $5,000.