Maine Revised Statutes Title 17-A Sec. 903 – Misuse of entrusted property
Current as of: 2023 | Check for updates
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1. A person is guilty of misuse of entrusted property if that person deals with property that has been entrusted to that person as a fiduciary, or property of the government or of a financial institution, in a manner that that person knows is a violation of that person’s duty and that involves a substantial risk of loss to the owner or to a person for whose benefit the property was entrusted.
[PL 2013, c. 414, §5 (AMD).]
Attorney's Note
Under the Maine Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class B crime | up to 10 years | up to $20,000 |
| Class C crime | up to 5 years | up to $5,000 |
| Class D crime | up to 1 year | up to $2,000 |
Terms Used In Maine Revised Statutes Title 17-A Sec. 903
- Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Dependent: A person dependent for support upon another.
- Fiduciary: A trustee, executor, or administrator.
2. As used in this section “fiduciary” includes any person carrying on fiduciary functions on behalf of an organization that is a fiduciary.
[PL 2013, c. 414, §5 (AMD).]
3. Except as provided in subsection 4, misuse of entrusted property is a Class D crime.
[PL 2013, c. 414, §5 (AMD).]
4. If a misuse of entrusted property results in the loss of a vulnerable person’s property or the loss of property entrusted to a person for the benefit of a vulnerable person and, at the time of the offense, the owner or the beneficiary of the property is a vulnerable person:
A. If the value of the property is more than $1,000 but not more than $10,000, the misuse of entrusted property is a Class C crime; and [PL 2013, c. 414, §5 (NEW).]
B. If the value of the property is more than $10,000, the misuse of entrusted property is a Class B crime. [PL 2013, c. 414, §5 (NEW).]
As used in this subsection, “vulnerable person” means an incapacitated adult as defined in Title 22, section 3472, subsection 10 or a dependent adult as defined in Title 22, section 3472, subsection 6.
[PL 2013, c. 414, §5 (NEW).]
SECTION HISTORY
PL 1975, c. 499, §1 (NEW). PL 2013, c. 414, §5 (AMD).