MARVIN MANDEL, Governor

657

(iii) OTHERWISE INDICATED AN INTEREST IN THE
FUNDS OR DEPOSIT AS EVIDENCED BY A MEMORANDUM ON FILE
WITH THE FINANCIAL ORGANIZATION;

(3) ANY SUM PAYABLE ON A CHECK CERTIFIED IN THE
STATE OR ON A WRITTEN INSTRUMENT ISSUED IN THE STATE ON
WHICH A BANKING OR FINANCIAL ORGANIZATION OR BUSINESS
ASSOCIATION IS DIRECTLY LIABLE, INCLUDING ANY CERTIFICATE
OF DEPOSIT, DRAFT, TRAVELERS CHECK, AND HONEY ORDER, THAT
HAS BEEN OUTSTANDING FOR MORE THAN 15 YEARS FROM THE DATE
IT WAS PAYABLE OR, IF PAYABLE ON DEMAND, FROM THE DATE OF
ITS ISSUANCE, UNLESS, WITHIN 15 YEARS, THE OWNER HAS:

(i) CORRESPONDED IN WRITING WITH THE BANKING
OR FINANCIAL ORGANIZATION OR BUSINESS ASSOCIATION
CONCERNING IT; OR

(ii) OTHERWISE INDICATED AN INTEREST AS
EVIDENCED BY A MEMORANDUM ON FILE WITH THE BANKING OR
FINANCIAL ORGANIZATION OR BUSINESS ASSOCIATION; AND

(4) ANY FUNDS OR OTHER TANGIBLE OR INTANGIBLE
PERSONAL PROPERTY REMOVED FROM A SAFE DEPOSIT BOX, OTHER
SAFEKEEPING REPOSITORY, OR AGENCY OR COLLATERAL DEPOSIT
BOX IN THE STATE ON WHICH THE LEASE OR RENTAL PERIOD HAS
EXPIRED DUE TO NONPAYMENT OF RENTAL CHARGES OR OTHER
REASON, OF ANY SURPLUS AMOUNTS ARISING FROM THE SALE OF
THE PROPERTY PURSUANT TO LAW, THAT HAVE BEEN UNCLAIMED BY
THE OWNER FOR MORE THAN 15 YEARS FROM THE DATE ON WHICH
THE LEASE OR RENTAL PERIOD EXPIRED.

REVISOR'S NOTE: This section presently appears as
Art. 95C, §2.

In item (3) of this section, the phrase "by
way of illustration but not of limitation" is
deleted as unnecessary since use of the word
"including" is not intended in any sense to be
exclusionary or Uniting; the maxim of
expressio unius est exclusio alterius and
doctrines of similar implication are not
intended, therefore, to be made applicable by
reason of deletion.

The only other changes are technical changes
in style.

17-106. SAME - FUNDS HELD AND OWING BY INSURANCE
CORPORATION.

(A) LIFE INSURANCE.

(1) UNCLAIMED FUNDS, AS DEFINED IN PARAGRAPH
(2) OF THIS SUBSECTION, HELD AND OWING BY A LIFE