188 ARTICLE 16.
1930, ch. 287.
225A. Whenever any fiduciary as defined in Section 225, shall hold
property in trust for a beneficiary for and during the life of said bene-
ficiary with remainder over to a person or corporation named or desig-
nated in the will, deed or other instrument creating the trust, and said
life tenant shall fail to appear and claim the interest in said trust estate
to which he may be entitled for a period of seven years from the date on
which a Court of Equity shall have assumed jurisdiction of the trust
property, whether said date shall occur before or after the passage of this
statute, and it shall not be known to said fiduciary, after diligent search
made by him, whether said life tenant is living or dead, or if living
whether said life tenant is al resident or non-resident of this State, or if
living where said life tenant can be found, said fiduciary or person, or
corporation entitled in remainder may apply by bill or petition to the
said Court of Equity which has so assumed jurisdiction of the trust
praying the said Court for the passage of a decree to close said trust
estate and make distribution to the person or corporation entitled in
remainder or to his or its heirs, personal representatives, successors or
assigns as their interest may appear. And said Court of Equity in ad-
ministering and carrying out the provisions of this section, shall have
and exercise the powers, authority and discretion conferred upon such
Court by said Section 225, and shall adopt the same procedure as is there-
in provided so far as the same may be reasonable and applicable. Any
fiduciary making distribution or delivery of any property in obedience to
such decree or order shall be protected from any claim in respect thereof
by such life tenant, his heirs, personal representatives or assigns.
1933 (Special Sess.), ch. 79, sec. 225A.
225B. Whenever any receiver, trustee, executor or administrator has
in hand any funds, payable in cash, under an account duly filed in the
court, having jurisdiction over such fiduciary, and where such fiduciary,
after a lapse of seven years, has been unable to locate the person or persons,
to whom such cash is distributed by the account, or his or their legal
representative or representatives, the equity court, or Orphans' Court,
having jurisdiction over the fiduciary, may, on a petition of such fiduciary,
if satisfied that reasonable efforts have been made by oral and written
inquiry and by advertisement inserted in at least two newspapers of
general circulation published in the city of Baltimore or in the county
of the court having jurisdiction over said fund for four consecutive
weeks, to locate the person or persons, entitled to such funds, or their legal
representative or representatives, and that such efforts have been unsuc-
cessful, order and direct such fiduciary to pay over to the Board of School
Commissioners of the county, or city of Baltimore as the case may be,
wherein such account is filed, any and all such sums of cash, so remaining
in his hands, and any accumulated interest thereon.
|
![clear space](../../../images/clear.gif) |