HARRY HUGHES, Governor

2889

(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] 5 years from the date it
was payable (OR 15 YEARS IN THE CASE OF A TRAVELER'S CHECK)
or, if payable on demand, from the date of its issuance,
unless, within [15] 5 years OR 15 YEARS IN THE CASE OF A
TRAVELER'S CHECK, 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] 5 years from the date on which the lease or
rental period expired.

(5)  NOTHING IN THIS SECTION SHALL BE CONSTRUED
TO APPLY TO ANY DEMANDS, SAVINGS, OR MATURED TIME DEPOSITS
THAT ARE DESIGNATED SUBJECT TO THE ORDER OF ANY COURT OF
THIS STATE.

17-106.

(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 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
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