HARRY HUGHES, Governor

2871

5-YEAR PERIOD, THE PERIOD LEADING TO A PRESUMPTION OF ABANDONMENT
COMMENCES ON THE DATE PAYMENT OF THE FIRST SUCH UNCLAIMED
DIVIDEND, DISTRIBUTION, OR OTHER SUM BECAME DUE AND PAYABLE. IF
5 DIVIDENDS, DISTRIBUTIONS, OR OTHER SUMS ARE NOT PAID DURING THE
PRESUMPTIVE PERIOD, THE PERIOD CONTINUES TO RUN UNTIL THERE HAVE
BEEN 5 DIVIDENDS, DISTRIBUTIONS, OR OTHER SUMS THAT HAVE NOT BEEN
CLAIMED BY THE OWNER.

(D)  THE RUNNING OF THE 5-YEAR PERIOD OF ABANDONMENT CEASES
IMMEDIATELY UPON THE OCCURRENCE OF A COMMUNICATION REFERRED TO IN
SUBSECTION (B). IF ANY FUTURE DIVIDEND, DISTRIBUTION, OR OTHER
SUM PAYABLE TO THE OWNER AS A RESULT OF THE INTEREST IS
SUBSEQUENTLY NOT CLAIMED BY THE OWNER, A NEW PERIOD OF
ABANDONMENT COMMENCES AND RELATES BACK TO THE TIME A SUBSEQUENT
DIVIDEND, DISTRIBUTION, OR OTHER SUM BECAME DUE AND PAYABLE.

(E)  AT THE TIME AN INTEREST IS PRESUMED ABANDONED UNDER
THIS SECTION, ANY DIVIDEND, DISTRIBUTION, OR OTHER SUM THEN HELD
FOR OR OWING TO THE OWNER AS A RESULT OF THE INTEREST, AND NOT
PREVIOUSLY PRESUMED ABANDONED, IS PRESUMED ABANDONED.

(F)  THIS SECTION DOES NOT APPLY TO ANY STOCK OR OTHER
INTANGIBLE OWNERSHIP INTEREST ENROLLED IN A PLAN THAT PROVIDES
FOR THE AUTOMATIC REINVESTMENT OF DIVIDENDS, DISTRIBUTIONS, OR
OTHER SUMS PAYABLE AS A RESULT OF THE INTEREST UNLESS THE RECORDS
AVAILABLE TO THE ADMINISTRATOR OF THE PLAN SHOW, WITH RESPECT TO
ANY INTANGIBLE OWNERSHIP INTEREST NOT ENROLLED IN THE
REINVESTMENT PLAN, THAT THE OWNER HAS NOT WITHIN 5 YEARS
COMMUNICATED IN ANY MANNER DESCRIBED IN SUBSECTION (B).

(G)  THE HOLDER OF AN INTEREST UNDER § 17-304 OF THIS
ARTICLE SHALL DELIVER A DUPLICATE CERTIFICATE OR OTHER EVIDENCE
OF OWNERSHIP IF THE HOLDER DOES NOT ISSUE CERTIFICATES OF
OWNERSHIP TO THE ADMINISTRATOR. UPON DELIVERY OF A DUPLICATE
CERTIFICATE TO THE ADMINISTRATOR, THE HOLDER AND ANY TRANSFER
AGENT, REGISTRAR, OR OTHER PERSON ACTING FOR OR ON BEHALF OF A
HOLDER IN EXECUTING OR DELIVERING THE DUPLICATE CERTIFICATE IS
RELIEVED OF ALL LIABILITY OF EVERY KIND IN ACCORDANCE WITH THE
PROVISION OF § 17-313 TO EVERY PERSON, INCLUDING ANY PERSON
ACQUIRING THE ORIGINAL CERTIFICATE OR THE DUPLICATE OF THE
CERTIFICATE ISSUED TO THE ADMINISTRATOR, FOR ANY LOSSES OR
DAMAGES RESULTING TO ANY PERSON BY THE ISSUANCE AND DELIVERY TO
THE ADMINISTRATOR OF THE DUPLICATE CERTIFICATE.

17-308.

(a)  All unclaimed wages or outstanding payroll checks held
or owing in the ordinary course of the holder's business in this
State, that have remained unclaimed by the owner for more than 5
years after they became payable, are presumed abandoned.

(b)  All intangible personal property, not otherwise covered
by this title, including any income or increment on it and
deducting any lawful charges, that is held or owing in this State
in the ordinary course of the holder's business and has remained