Section 17-324 – Interstate Cooperation
(a) The Administrator may enter into agreements with other states to exchange information needed to enable this or another state to audit or otherwise determine unclaimed property that it or another state may be entitled to subject to a claim of custody. The Administrator by rule may require the reporting of information needed to enable compliance […]
Section 17-325 – Agreements to Pay Compensation
All agreements to pay compensation to recover or assist in the recovery of property made within 24 months of the date the property is paid or delivered to the abandoned property office are unenforceable.
Section 17-326 – Short Title
This title may be cited as the Maryland Uniform Disposition of Abandoned Property Act.
Section 17-301 – When Property Presumed Abandoned — Tangible or Intangible Personal Property Held by Banking or Financial Organization or Business Association
(a) The following property held by a banking or financial organization, or business association is presumed abandoned: (1) Any demand, savings, or matured time deposit account made with a banking organization, together with any interest or dividend on it, excluding any charges that lawfully may be withheld, unless, within 3 years, the owner has: (i) Increased or decreased […]
Section 17-302 – When Property Presumed Abandoned — Insurance Funds
(a) Funds held or owing under any life or endowment insurance policy or annuity contract that has matured or terminated are presumed abandoned if unclaimed for more than 3 years after the funds become due and payable as established from the records of the insurance company holding or owing the funds. (b) If a person other than […]
Section 17-303 – When Property Presumed Abandoned — Funds Held by Utility
The following funds held by any utility are presumed abandoned: (1) Any deposit made by a subscriber with a utility to secure payment for, or any sum paid in advance for, utility services to be furnished in the State, less any lawful deduction, that has remained unclaimed by the person who appears on the records of […]
Section 17-304 – When Property Presumed Abandoned — Stock or Sum Held by Business Association
(a) Any stock or other certificate of ownership, or any dividend, profit, distribution, interest, payment on principal, or other sum held by a business association for or to a shareholder, certificate holder, member, bondholder or other security holder, or participating patron of a cooperative, who has not claimed it or corresponded in writing with the business […]
Section 17-305 – When Property Presumed Abandoned — Personal Property Distributable on Forfeiture of Charter or Voluntary Dissolution of Business Association
All tangible or intangible personal property distributable on forfeiture of the charter or voluntary dissolution of a business association, banking organization, or financial organization organized under the laws of this State, that is unclaimed by the owner 60 days after the date of final distribution, is presumed abandoned.
Section 17-306 – When Property Presumed Abandoned — Intangible Personal Property Held in Fiduciary Capacity
All intangible personal property and any income or increment on it, held in a fiduciary capacity for the benefit of another person, is presumed abandoned unless, within 3 years after it becomes payable or distributable, the owner has increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property, […]
Section 17-307 – When Property Presumed Abandoned — Intangible Personal Property Held by Court or Public Authority
All intangible personal property held for the owner by any court, public corporation, public authority, or public officer of this State or any political subdivision of it that has remained unclaimed by the owner for more than 3 years is presumed abandoned.