SPIRO T. AGNEW, Governor                       1037

ment), title "Uniform Disposition of Unclaimed Property"; and
to add new Sections 8A and 14A to said Article 95C to follow
respectively after Sections 8 and 14 thereof; repealing present
laws concerning dormant accounts in banks and trust companies;
repealing laws concerning the disposition of unclaimed funds in
the offices of clerks of court in this State; generally amending
the Uniform Disposition of Unclaimed Property Act and relating
generally to unclaimed property and its disposition in this State.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 206 of Article 11 of the Annotated Code of Maryland
(1967 Supplement), title "Banks and Trust Companies," subtitle
"Dormant Accounts," be and it is hereby repealed and that Section
44 of Article 17 of said Code (1966 Replacement Volume), title
"Clerks of Courts," subtitle "General Duties of Clerks," be and it
is hereby repealed.

Sec. 2 And be it further enacted, That Sections 1 (b), 1 (c),
2, 3, 4, 5, 6, 7, 8, 17, 22 and 25 of Article 95C of said Code (1967
Supplement), title "Uniform Disposition of Unclaimed Property,"
be and they are hereby repealed and re-enacted, with amendments,
and that new Sections 8A and 14A be and they are hereby added
to said Article of said Code, to follow respectively after Sections
8 and 14 thereof; and all to read as follows:

ARTICLE 95C
1.

(b)   "Banking organization" means any ([banking institution as
this term is defined from time to time in Section 63 of Article 11
of this Code.] bank, trust company, savings bank, land bank and
other similar organizations engaged in business in this State.

(c)   "Business association" means any corporation [organized
and existing under the provisions of Article 23 of this Code as
amended from time to time], joint stock company, business trust,
partnership, or any association for business purposes of two or
more individuals.

2.

(a) The following property held or owing by a banking or
financial organization, or business association is presumed aban-
doned :

Any demand, savings, or matured time deposit made in this State
with a banking organization, together with any interest or dividend
thereon, excluding any charges that may lawfully be withheld, un-
less the owner has within twenty (20) years:

(1)  increased or decreased the amount of the deposit; or

(2)  presented the passbook or other similar evidence of the
deposit for the crediting of interest; or

(3)  corresponded in writing with the banking organization con-
cerning the deposit; or

(4) otherwise indicated an interest in the deposit as evidenced
by a memorandum on file with the banking organization.