2804

LAWS OF MARYLAND

Ch. 752

(d)  Within 120 days from the receipt of the report
required by [§ 17-114] § 17-310 OF THIS SUBTITLE, the
administrator shall mail a notice to each person who has an
address listed in the report who appears entitled to
property valued at $25 or more and presumed abandoned under
this [title] SUBTITLE.

(e)  The mailed notice shall contain:

(1)  A statement that, according to a report
filed with the administrator, property is being held to
which the addressee appears entitled;

(2)  The name and address of the person holding
the property and any necessary information regarding any
change of the name or address of the holder; and

(3)  A statement that if satisfactory proof of
claim is not presented by the owner to the holder by the
date specified in the published notice, the property will be
placed in the custody of the administrator, to whom all
further claims then shall be directed.

[17-116] 17-312.

Every person who has filed a report as provided in [§
17-114] § 17-310 OF THIS SUBTITLE, within 20 days after the
time specified in [§ 17-115] § 17-311 OF THIS SUBTITLE for
claiming the property from the holder, shall pay or deliver
to the administrator all abandoned property specified in the
report. However, if the owner establishes [his] THE right to
receive the abandoned property to the satisfaction of the
holder within the time specified in [§ 17-115] § 17-311 OF
THIS SUBTITLE, or if it appears that for some other reason
the presumption of abandonment is erroneous, the property is
no longer presumed abandoned and the holder need not pay or
deliver the property to the administrator, but instead shall
file a verified written explanation of the proof of claim or
of the error in the presumption of abandonment.

[17-117] 17-313.

On the payment or delivery of ANY abandoned property
UNDER THIS TITLE to the administrator, the State shall
assume custody and shall be responsible for its safekeeping.
Any person who pays or delivers abandoned property to the
administrator under this title is relieved of all liability,
to the extent of the value of the property paid or
delivered, for any claim which exists or may arise with
respect to the property. Any holder who has paid money to
the administrator under this title may make payment to any
person who appears to the holder to be entitled to it and,
on proof of the payment and proof that the payee was
entitled to it, the administrator immediately shall
reimburse the holder for the payment.

[17-118] 17-314.