2798

LAWS OF MARYLAND

Ch. 752

(2)  Any funds paid in the State toward the
purchase of shares or other interest in a financial
organization, or any deposit made with these funds in the
State, and any interest or dividends on these, excluding any
charges that lawfully may be withheld, unless, within 12
years, the owner has:

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

(ii) Corresponded in writing with the
financial organization concerning the funds or deposit; or

(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 money 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], or 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.

[17-106] 17-302.

(a) (1) Unclaimed funds, as defined in paragraph (2)
of this subsection, held [and owing] by a life 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] THIS 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 or if it is not definite and certain from the
records of the corporation which person is entitled to the