2870                                    LAWS OF MARYLAND                                 Ch. 773

(C)  THE REPORT SHALL BE MADE ON A STANDARD FORM AND
INCLUDE INFORMATION THAT THE ADMINISTRATOR REQUIRES.

(D) (1) FOR BANKING OR FINANCIAL ORGANIZATIONS, THE
REPORT SHALL BE FOR THE PERIOD OF JULY 1 THROUGH JUNE 30 AND
SHALL BE FILED NO LATER THAN OCTOBER 31 OF THE SAME YEAR.

(2) FOR INSURANCE CORPORATIONS, THE REPORT SHALL
BE FOR THE PERIOD OF JANUARY 1 THROUGH DECEMBER 31 OF EACH
YEAR, AND SHALL BE FILED NO LATER THAN APRIL 30 OF THE
FOLLOWING YEAR.

17-118.

[When property is paid or delivered to the
administrator under this title, the owner is not entitled to
receive income or other increments which subsequently
accrue.]

(A)  WHEN PROPERTY THAT WAS INTEREST BEARING TO THE
OWNER ON THE DATE OF SURRENDER BY THE HOLDER IS PAID OR
DELIVERED TO THE ADMINISTRATOR, THE ADMINISTRATOR SHALL PAY
AN INTEREST RATE THAT IS THE LESSER OF:

(1)  5 PERCENT; OR

(2)  A LESSER RATE THAT THE PROPERTY EARNED WHILE
IN THE POSSESSION OF THE HOLDER.

(B)  IF A CLAIM TO PROPERTY UNDER SUBSECTION (A) OF
THIS SECTION IS DETERMINED IN FAVOR OF THE CLAIMANT, THE
ADMINISTRATOR SHALL PAY TO THE CLAIMANT THE REQUIRED
INTEREST ACCRUED FOR THE PERIOD OF TIME THE ADMINISTRATOR
HELD THE PROPERTY, UP TO 5 YEARS.

(C)  INTEREST IS NOT REQUIRED TO BE PAID UNDER THIS
SECTION FOR ANY PERIOD BEFORE JULY 1, 1981.

17-120.

(a) EXCEPT AS PROVIDED IN THIS SUBSECTION, [All] ALL
abandoned property, other than money delivered to the
administrator under this title, [may] SHALL be [sold]
OFFERED FOR SALE by him WITHIN 1 YEAR OF DELIVERY. The sale
shall be to the highest bidder at public sale in whatever
place in the State affords, in his judgment, the most
favorable market for the property involved. The
administrator may decline the highest bid and reoffer the
property for sale if he considers the price bid
insufficient. He need not offer any property for sale if, in
his opinion, the probable cost of sale exceeds the value of
the property.

17-121.