HARRY HUGHES, Governor                               3519

(C) IN SATISFYING A CLAIM THE ADMINISTRATOR SHALL PAY
THE CLAIMANT AN AMOUNT EQUAL TO THE SALES PRICE OBTAINED AT
THE PUBLIC SALE PLUS INTEREST AT THE RATE EQUAL TO THAT
EARNED BY THE STATE TREASURER EACH YEAR ON INVESTED STATE
FUNDS.

17-127.

(a)  ANY PERSON WHO WILLFULLY FAILS TO PAY OR DELIVER
ABANDONDED PROPERTY TO THE ADMINISTRATOR AS REQUIRED BY THIS
TITLE SHALL PAY A PENALTY EQUAL TO 25 PERCENT OF THE VALUE
OF THE PROPERTY. If any person fails to file any report or
refuses to deliver property to the administrator as required
by this title, the administrator [shall] MAY bring an action
in a court of appropriate jurisdiction TO REQUIRE THE FILING
OF THE REPORT AND to enforce [the] delivery OF THE PROPERTY.

(b)  Any person who willfully fails to render any
report or perform any other duty required by this title is
subject to a fine of [$5] $100 for each day the report is
withheld, but not more than [$500] $5,000.

(c)   [Any] IN ADDITION TO THE PROVISIONS OF SUBSECTION
(A) OF THIS SECTION, ANY person who willfully refuses to pay
or deliver abandoned property to the administrator as
required by this title is subject to a fine of not less than
$500 nor more than [$1,000] $5,000 or imprisonment for not
more than six months or both.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

May 19, 1981
The Honorable Benjamin L. Cardin
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed House Bill 378.

This bill provides a reduction in the time period for
presumption of abandonment for both tangible and intangible
property held by financial institutions, utilities,
insurance corporations, business associations and trusts.

House Bills 1297 and 1298 make essentially the same
changes. Each of the three bills would produce a one-time
revenue gain in Fiscal Year 1982.