658

LAWS OF MARYLAND

[Ch. 49

INSURANCE CORPORATION, SHALL BE PRESUMED ABANDONED IF THE
LAST KNOWN ADDRESS OF THE PERSON ENTITLED TO THE FUNDS,
ACCORDING TO THE RECORDS OF THE CORPORATION, IS IN THE
STATE. IF A PERSON OTHER THAN THE INSURED OR ANNUITANT
IS ENTITLED TO THE FUNDS AND THE ADDRESS OF THE PERSON IS
NOT KNOWN TO THE CORPORATION OF IF IT IS NOT DEFINITE AND
CERTAIN FROM THE RECORDS OF THE CORPORATION WHICH 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.

(2) "UNCLAIMED FUNDS," AS USED IN THIS
SUBSECTION, MEANS ALL MONEY HELD AND OWING BY ANY LIFE
INSURANCE CORPORATION UNCLAIMED AND UNPAID FOR MORE THAN
SEVEN YEARS AFTER THE MONEY BECOMES 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 CONSIDERED TO BE MATURED AND ITS PROCEEDS ARE
CONSIDERED DUE AND PAYABLE IF THE POLICY WAS IN FORCE
WHEN THE INSURED ATTAINED THE LIMITING AGE UNDER THE
MORTALITY TABLE ON WHICH THE RESERVE IS BASED, UNLESS,
WITHIN THE PRECEDING SEVEN YEARS, THE PERSON ENTITLED TO
THE PROCEEDS HAS:

(i) ASSIGNED, READJUSTED, OF PAID PREMIUMS ON
THE POLICY, OR SUBJECTED THE POLICY TO LOAN; OR

(ii) CORRESPONDED IN WRITING WITH THE LIFE
INSURANCE CORPORATION CONCERNING THE POLICY.

(B) INSURANCE OTHER THAN LIFE INSURANCE.

(1)   UNCLAIMED FUNDS, AS DEFINED IN PARAGRAPH
(2) OF THIS SUBSECTION, HELD AND OWING BY A FIRE,
CASUALTY, OR SURETY INSURANCE CORPORATION, SHALL BE
PRESUMED ABANDONED IF THE LAST KNOWN ADDRESS OF THE
PERSON ENTITLED TO THE FUNDS, ACCORDING TO THE RECORDS OF
THE CORPORATION, IS IN THE STATE. IF A PERSON OTHER THAN
THE INSURED, THE PRINCIPAL, OR THE CLAIMANT IS ENTITLED
TO THE FUNDS AND THE ADDRESS OF THE PERSON IS NOT KNOWN
TO THE CORPORATION OR IF IT IS NOT DEFINITE AND CERTAIN
FROM THE RECORDS OF THE CORPORATION WHICH 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, THE PRINCIPAL,
OR THE CLAIMANT ACCORDING TO THE RECORDS OF THE
CORPORATION.

(2)    "UNCLAIMED FUNDS," AS USED IN THIS
SUBSECTION, MEANS ALL MONEY HELD AND OWING BY ANY FIRE,
CASUALTY, OR SURETY INSURANCE CORPORATION UNCLAIMED AND