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 17-310.1 – 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 17-311 – 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 […]
Section 17-312 – Delivery of Abandoned Property to Administrator
Every person who has filed a report as provided in § 17-310 of this subtitle, at the time of the filing of the report, shall pay or deliver to the Administrator all abandoned property specified in the report.
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 […]