2870                                          LAWS OF MARYLAND                                      Ch. 602

UNDER ANY FIRE, CASUALTY, OR SURETY INSURANCE POLICY OR CONTRACT.

(E) MONEY OTHERWISE PAYABLE ACCORDING TO THE RECORDS OF THE
CORPORATION IS CONSIDERED DUE AND PAYABLE ALTHOUGH THE POLICY OR
CONTRACT HAS NOT BEEN SURRENDERED AS REQUIRED.

17-304.

(A)  Any stock or other certificate of ownership, or any
dividend, profit, distribution, interest, payment on principal,
or other sum held 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 5 years after the date
prescribed for payment or delivery, is presumed abandoned if:

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

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

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

(B)  THIS SECTION SHALL APPLY TO THE STOCK OR OTHER
CERTIFICATE OF OWNERSHIP ON, FOR OR FROM WHICH THE AMOUNTS
DESCRIBED IN SUBSECTION (A) HAVE BEEN PRESUMED ABANDONED IF THE
OWNER OF SAID UNDERLYING STOCK OR CERTIFICATE HAS NOT, WITHIN THE
5-YEAR PERIOD GIVING RISE TO THE PRESUMPTION OF ABANDONMENT:

(1)  COMMUNICATED IN WRITING WITH THE ASSOCIATION
REGARDING THE INTEREST OR A DIVIDEND, DISTRIBUTION, OR OTHER SUM
PAYABLE AS A RESULT OF THE INTEREST; OR

(2)  OTHERWISE COMMUNICATED WITH THE ASSOCIATION
REGARDING THE INTEREST OR A DIVIDEND, DISTRIBUTION, OR OTHER SUM
PAYABLE AS A RESULT OF THE INTEREST, AS EVIDENCED BY A MEMORANDUM
OR OTHER RECORD ON FILE WITH THE ASSOCIATION PREPARED BY AN
EMPLOYEE OF THE ASSOCIATION.

(C)  AT THE EXPIRATION OF A 5-YEAR PERIOD FOLLOWING THE
FAILURE OF THE OWNER TO CLAIM A DIVIDEND, DISTRIBUTION, OR OTHER
SUM PAYABLE TO THE OWNER AS A RESULT OF THE INTEREST, THE
INTEREST IS NOT PRESUMED ABANDONED UNLESS THERE HAVE BEEN AT
LEAST 5 DIVIDENDS, DISTRIBUTIONS, OR OTHER SUMS PAID DURING THE
PERIOD, NONE OF WHICH HAS BEEN CLAIMED BY THE OWNER. IF 5
DIVIDENDS, DISTRIBUTIONS, OR OTHER SUMS ARE PAID DURING THE