Section 17-308 – Unclaimed Wages, Outstanding Payroll Checks, or Intangible Personal Property Held or Owing in Ordinary Course of Holder’s Business; Failure to Make Demand
(a) All unclaimed wages or outstanding payroll checks held or owing in the ordinary course of the holder’s business, that have remained unclaimed by the owner for more than 3 years after they became payable, are presumed abandoned. (b) All intangible personal property, not otherwise covered by this title, including any income or increment on it and […]
Section 17-308.1 – Charges or Cessation of Benefits on Dormant or Inactive Accounts
(a) A holder may not impose any charges on a dormant or inactive account or cease payment or accrual of any benefits, including dividends or interest on property during the period of time giving rise to the presumption of abandonment unless: (1) The charges or cessation of any benefit are provided for in a valid, enforceable and […]
Section 17-308.2 – Notification of Apparent Owner of Presumed Abandoned Property
Not more than 120 days or less than 30 days before the filing of the report required under § 17–310 of this subtitle, the holder in possession of presumed abandoned property shall send a written notice by first–class mail to the apparent owner of presumed abandoned property valued at $100 or more to the owner’s […]
Section 17-309 – When Property Held for Owner in Another State Not Presumed Abandoned
If specific property which is subject to the provisions of this subtitle is held for an owner whose last known address is in another state, the specific property is not presumed abandoned in this State and is not subject to this subtitle if: (1) It may be claimed as abandoned or escheated under the laws of […]
Section 17-206 – Election of Claimant; Effect of Notice
(a) Any person who asserts an interest in abandoned property in federal custody: (1) May elect to claim against the federal government; or (2) Within 90 days of the posting of the report of abandoned property in federal custody, shall notify the Administrator of the asserted interest and intent to claim. (b) If the Administrator receives notice under this […]
Section 17-310 – Report by Holder of Property Presumed Abandoned
(a) Every person holding funds or other tangible or intangible property presumed abandoned under this subtitle shall report to the Administrator with respect to the property as provided in this section. (b) The report shall be made under oath and shall include: (1) The name, if known, and last known address, if any, of each person who appears […]
Section 17-207 – Effect of Judicial Determination Against Claimant
If a judicial determination is made against a claimant of abandoned property in federal custody, the claimant may not assert a claim against this State.
Section 17-310.1 – Report by Financial Organization, Insurance Corporation, or Utility Neither Holding nor Owing Abandoned Property
(a) In case any banking or financial organization, insurance corporation, or utility neither holds nor owes any abandoned property specified in this title on June 30 of any year, it shall make a written report to the Administrator so stating as provided in this section. (b) The report shall be signed by the holder who, by signing, […]
Section 17-208 – Expiration of Limitations
The expiration of any limitations period set by statute or court order does not affect the right of this State to acquire possession of abandoned property in federal custody.
Section 17-311 – Notice to Persons Who Appear to Be Owners of Abandoned Property
(a) (1) Within 365 days from the filing of the report required by § 17-310 of this subtitle, the Administrator shall cause notice to be published in a newspaper of general circulation in the county in the State within which is located the last known address of any person to be named in the notice. (2) If an […]