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2894
LAWS OF MARYLAND
Ch. 774
(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.
(a) (1) All funds received under this title, including
the proceeds of the sale of abandoned property under §
17-120, shall be credited by the administrator to a special
fund. The administrator shall retain in the special fund at
the end of each fiscal year, from the proceeds received by
him, an amount not to exceed $50,000, from which sum he
shall pay any claim allowed by him or allowed by a court of
law under this title.
(2) After deducting all costs incurred in
administering this title on a pro rata basis, as provided in
subsection (c) of this section, the balance of funds shall
be distributed at least once annually or at any other time
that the administrator in his discretion determines. The
funds shall be allocated as follows:
(i) To each county of the State, the funds
of owners whose last known address was shown by the records
of the holder to be in the county; and
(ii) To the State for deposit in the
general funds of the State, the funds of owners for whom
there is no last known address in the State. FOR FISCAL YEAR
1982 ONLY, IN PLACE OF THE DISTRIBUTION AUTHORIZED ABOVE,
THE ADMINISTRATOR SHALL DISTRIBUTE TO EACH COUNTY THE
FOLLOWING FUNDS:
ALLEGANY______________________________________$ 3,000
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ANNE ARUNDEL
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27,667
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BALTIMORE CITY
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359,667
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BALTIMORE
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75,667
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CALVERT
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2,000
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CAROLINE
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2,000
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CARROLL
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6,000
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CECIL
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7,667
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CHARLES
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4,000
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DORCHESTER
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3,333
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FREDERICK
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8,333
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GARRETT
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1,667
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HARFORD
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14,333
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HOWARD
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15,000
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KENT
2,667
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