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Can you summarize 17-A MERS Section 903?
FRAUD > Misuse of entrusted property
Short Summary
This section of the Maine Criminal Code governs the offense of misuse of entrusted property. It applies to any person who deals with property that has been entrusted to them as a fiduciary, or property of the government or of a financial institution. The offense occurs when the person knowingly violates their duty and there is a substantial risk of loss to the owner or the person for whose benefit the property was entrusted. Misuse of entrusted property is generally classified as a Class D crime. However, if the offense results in the loss of a vulnerable person’s property or property entrusted to a person for the benefit of a vulnerable person, it can be classified as a Class C or Class B crime depending on the value of the property. A vulnerable person is defined as an incapacitated adult or a dependent adult. There are no specific exemptions mentioned in this section.
Whom does it apply to?
Any person who deals with property that has been entrusted to them as a fiduciary, or property of the government or of a financial institution
What does it govern?
Misuse of entrusted property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Class D crime, unless the property loss involves a vulnerable person, in which case it can be a Class C or Class B crime depending on the value of the property
Jurisdiction
Maine