1038                             LAWS OF MARYLAND                         CH. 550

(b) Any funds paid in this State toward the purchase of shares
or other interest in a financial organization or any deposit made
therewith in this State, and any interest or dividends thereon, ex-
cluding any charges that may lawfully be withheld, unless the owner
has within twenty (20) years:

(1)  increased or decreased the amount of the funds or deposit,
or presented an appropriate record for the crediting of interest or
dividends; or

(2)  corresponded in writing with the financial organization con-
cerning the funds or deposit; or

(3)  otherwise indicated an interest in the funds or deposit as
evidenced by a memorandum on file with the financial organization.

[(b)] (c) Any sum payable on checks certified in this State or on
written instruments issued in this State on which a banking or
financial organization or business association is directly liable, in-
cluding, by way of illustration but not of limitation, certificates of
deposit, [and] drafts, travelers checks and money orders that has
been outstanding for more than fifteen years from the date it was
payable, or from the date of its issuance if payable on demand,
unless the owner has within fifteen years corresponded in writing
with the banking or financial organization or business association
concerning it, or otherwise indicated an interest as evidenced by a
memorandum on file with the banking or financial organization or
business association.

[(.c)] (d) Any funds or other personal property, tangible or in-
tangible, removed from a safe deposit box or any other safekeeping
repository, or agency or collateral deposit box, in this State on which
the lease or rental period has expired due to nonpayment of rental
charges or other reason, or any surplus amounts arising from the
sale thereof pursuant to law, that have been unclaimed by the owner
for more than fifteen years from the date on which the lease or
rental period expired.

3.

(a) (i) Unclaimed funds, as defined in this subsection, held and
owing by a life insurance corporation shall be presumed abandoned
if the last known address, according to the records of the corpora-
tion, of the person entitled to the funds is within this State. If a
person other than the insured or annuitant is entitled to the funds
and no address of such person is known to the corporation or if
it is not definite and certain from the records of the corporation
what person is entitled to the funds, it is presumed that the last
known address of the person entitled to the funds is the same as
the last known address of the insured or annuitant according to
the records of the corporation.

(ii) Unclaimed funds as used in this subsection, means all moneys
held and owing by any life insurance corporation unclaimed and
unpaid for more than [fifteen years] seven years after the moneys
become due and payable as established from the records of the
corporation under any life or endowment insurance policy or annuity
contract which has matured or terminated. A life insurance policy
not matured by actual proof of the death of the insured is deemed
to be matured and the proceeds thereof are deemed to be due and