HARRY HUGHES, Governor

3515

The following funds held or owing by any utility are
presumed abandoned:

(1)  Any deposit made by a subscriber with a
utility to secure payment for, or any sum paid in advance
for, utility services to be furnished in the State, less any
lawful deduction, that has remained unclaimed by the person
who appears on the records of the utility as entitled to it
for more than [seven] 5 years after the termination of the
services for which the deposit or advance payment was made;

(2)  Any sum which a utility has been ordered to
refund and which was received for utility services rendered
in the State, together with any interest on it, less any
lawful deduction, that has remained unclaimed by the person
appearing on the records of the utility as entitled to it
for more than [seven] 5 years after the date it became
payable in accordance with the final determination or order
providing for the refund; and

(3)  Any sum paid to a utility for a utility
service, which service has not been rendered within [seven]
5 years of the payment.

17-108.

Any stock or other certificate of ownership, or any
dividend, profit, distribution, interest, payment on
principal, or other sum held or owing by a business
association for or to a shareholder, certificate holder,
member, bondholder or other security holder, or
participating patron of a cooperative, who has not claimed
it or corresponded in writing with the business association
concerning it within [seven] 5 years after the date
prescribed for payment or delivery, is presumed abandoned
if:

(1)  It is held or owing by a business
association organized under the laws of or created in the
State; or

(2)  It is held or owing by a business
association doing business in the State but not organized
under the laws of or created in the State, and the records
of the business association indicate that the last known
address of the person entitled to it is in the State; or

(3)  It is held or owing by a business
association not doing business in the State and not
organized under the laws of or created in the State, but the
records of the business association indicate that the last
known address of the person entitled to it is in the State.

17-110.