MARVIN MANDEL, Governor

1647

REASONABLE EXPENSES IN LOCATING THE REMAINING
STOCKHOLDERS AND SECURING PROOF OF INTERESTS FROM THEM
AND MAY CHARGE THE EXPENSES AGAINST THE FUNDS
UNDISTRIBUTED AT THE TIME THE EXPENSES ARE INCURRED.
FROM TIME TO TIME THE DIRECTOR-TRUSTEES OR RECEIVER MAY
DISTRIBUTE A PROPORTIONATE SHARE TO ANY STOCKHOLDER WHO
HAS PROVED HIS INTEREST SINCE THE PRIOR DISTRIBUTION.

(C)   FINAL DISTRIBUTION; DISCHARGE OF TRUSTEE OR
RECEIVER.

NO EARLIER THAN THREE YEARS FROM THE DATE OF THE
ORIGINAL NOTICE, THE DIRECTOR-TRUSTEES OR RECEIVER MAY
DISTRIBUTE ALL SURPLUS ASSETS REMAINING UNDER HIS CONTROL
TO THOSE STOCKHOLDERS MHO HAVE PROVED THEIR INTERESTS AND
ARE ENTITLED TO DISTRIBUTION. AFTER FINAL DISTRIBUTION,
THE INTEREST OF ANY STOCKHOLDER WHO HAS NOT PROVED HIS
INTEREST IS FOREVER BARRED AND FORECLOSED.

(D)   UNCLAIMED ASSETS.

EXCEPT AS PROVIDED IN §17-109 OF THE COMMERCIAL LAW
ARTICLE WITH RESPECT TO UNCLAIMED INTANGIBLE PERSONAL
PROPERTY:

(1)    ANY ASSETS REMAINING UNCLAIMED 60 DAYS
AFTER THE FINAL DISTRIBUTION, WHETHER THROUGH FAILURE OR
INABILITY OF THE POSTAL AUTHORITIES TO DELIVER THE
DISTRIBUTION CHECKS OR FOR ANY OTHER REASON, SHALL
ESCHEAT TO THE STATE; AND

(2)    THE DIRECTOR-TRUSTEES OR RECEIVER ARE
RELEASED AND DISCHARGED FROM ALL FURTHER LIABILITY IN THE
MATTER ON PAYMENT OR DELIVERY OF ALL UNCLAIMED ASSETS TO
THE STATE TREASURY.

REVISOR'S NOTE: This section presently appears as
Art. 23, §83.

Subsection (a) of this section has been
conformed, by analogy, with Rule BP4 to
clarify the manner of publication. Reference
to "Director—Trustees" is added to clarify
that this section applies to any voluntary
dissolution, and not merely to any dissolution
where a court is involved. Sec. 3—410
provides that director—trustees act until a
court appoints a receiver.

In subsection (d) of this section, reference
to the Uniform Disposition of Unclaimed
Property Act is inserted. That act, which was
enacted by Ch. 611, Acts of 1966, has
impliedly repealed this section, which was