J. MILLARD TAWES, Governor                      707

institution, national bank, savings and loan association or federal
savings and loan association shall be presumed to be dormant
unless the books or records of such bank, credit union, trust com-
pany, savings institution, national bank, savings and loan associa-
tions or federal savings and loan associations show that the owner
or owners (legal, beneficial, equitable or otherwise) have either (1)
had a transfer, disposition of interest or other transaction with
respect thereto; or (2) communicated in writing with such bank,
credit union, trust company, savings institution, national bank,
savings and loan associations or federal savings and loan associa-
tion with respect thereto; or (3) been credited with interest or
dividends on the passbook or certificate of deposit of such depositor
or (4) increased or decreased the amount of such deposit, account or
share account or balance in any deposit or share account.

206. (b) Dormancy for twenty years—In general—Whenever
any deposit, account or share account or balance in any deposit,
account or share account in any bank, credit union, trust company,
savings institution, national bank, savings and loan association or
federal savings and loan association has been dormant (except for
any crediting of interest thereon which may have been made and
except for any deduction of maintenance or service charge as pro-
vided in sub-section (a) hereof) for a period of twenty (20) years
and the owners or persons claiming through him cannot reasonably
be located, such bank, credit union, trust company, savings institu-
tions, national bank, savings and loan association or federal savings
and loan association shall, on or before the last day of December of
the year in which the last day of aforesaid twenty (20) years and
the owners or persons claiming through him cannot reasonably be
located, such bank, credit union, trust company, savings institutions,
national bank, savings and loan association or federal savings and
loan association shall, on or before the last day of December of the
year in which the last day of aforesaid twenty (20) year period
shall occur, publish the name of the owner thereof, as shown by its
records, in at least one newspaper in the city or county in which
its principal office is located over the names of the president and
treasurer, which notice shall warn such owner or persons claiming
through him to present, within six months following such advertise-
ment, information relating to him or their identity and present
address, and, if within six months following such advertisement the
owner or persons claiming through him shall not present informa-
tion relating to his or their identity and present address and estab-
lish claim to such deposit, account or share account or balance
therein, such bank, credit union, trust company, savings institution,
national bank, savings and loan association or federal savings and
loan association shall, after deducting the pro rata cost of such
advertisement from the deposit, account or share account or balance
therein remaining in its hands, pay the remainder to the Treasurer
of the State of Maryland for the use and benefit of the State of
Maryland and thereafter its liability to the owner or persons claim-
ing through him of such deposit, account or share account or balance
therein shall cease and determine.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1965.

Approved April 8, 1965.