2872                                          LAWS OF MARYLAND                                      Ch. 602

unclaimed by the owner for more than 5 years after it became
payable or distributable, is presumed abandoned.

(C) PROPERTY IS PAYABLE OR DISTRIBUTABLE FOR THE PURPOSE OF
THIS TITLE NOTWITHSTANDING THE OWNER'S FAILURE TO MAKE DEMAND OR
TO PRESENT ANY INSTRUMENT OR DOCUMENT REQUIRED TO RECEIVE
PAYMENT.

17-310.

(b)  The report shall be verified and shall include:

(1)  The name, if known, and last known address, if
any, of each person who appears from the records of the holder to
be the owner of any property valued at [$25] $50 or more and
presumed abandoned under this subtitle;

(2)  In case of unclaimed funds of an insurance
corporation, the full name of the insured, annuitant, principal,
or claimant, and the last known address according to the
insurance corporation's records;

(3)  The nature and identifying number, if any, or
description of the property and the amount which appears from the
records to be due, except that items valued at less than [$25]
$50 each may be reported in the aggregate;

(4)  The date when the property became payable,
demandable, or returnable, and the date of the last transaction
with the owner with respect to the property; and

(5)  Any other information which the administrator
prescribes by rule as necessary for the administration of this
title.

17-311.

(c)  The administrator is not required to publish in the
notice any item valued at less than [$25] $50 unless the
administrator considers the publication to be in the public
interest.

(d)  Within 120 days from the receipt of the report required
by § 17-310 of this subtitle, the administrator shall mail a
notice to each person who has an address listed in the report who
appears entitled to property valued at [$25] $50 or more and
presumed abandoned under this subtitle.

17-317.

(a) (1) All funds received under this title, including the
proceeds of the sale of abandoned property under § 17-316 of this
subtitle, 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, an amount