Maine’s RUUPA Must Be Opposed

    View Author December 2018

    Maine’s version of the Revised Uniform Unclaimed Property Act (RUUPA) is soon to be introduced, and it presents an alarming turn for life insurers on an already rocky road of RUUPA legislation enacted and pending in the states. If Maine’s RUUPA is enacted as drafted, “date of death” will be the dormancy trigger for life and annuity proceeds – regardless of an insurer’s knowledge of an insured or annuitant’s death.