686                                              LAWS OF MARYLAND                                     Ch. 10

other reason is presumed abandoned and shall be reported to the
abandoned property unit of the State Comptroller's office in
accordance with Title 17 of the Commercial Law Article, the
Maryland Uniform Disposition of [Unclaimed] ABANDONED Property
Act.

(2) The director-trustees or receiver are released
and discharged from all further liability in the matter on
payment or delivery of all unclaimed assets to the abandoned
property unit of the State Comptroller's office.

3-518.

(b) After the expiration of the time specified in the
notice, the [director-trustee] DIRECTOR-TRUSTEES or receiver may
distribute to each stockholder who has proved his interest his
proportionate share of the assets, reserving the shares of those
who have not proved their interests. Thereafter, the
director-trustees or receiver may incur reasonable expenses in
locating the remaining stockholders and securing proof of
interests from them and may charge the expenses against the funds
undistributed at the time the expenses are incurred. From time to
time the director-trustees or receiver may distribute a
proportionate share to any stockholder who has proved his
interest since the prior distribution.

(d) (1) Any assets remaining unclaimed 60 days after the
final distribution, whether through failure or inability of the
postal authorities to deliver the distribution checks or for any
other reason, is presumed abandoned and shall be reported to the
abandoned property unit of the State Comptroller's office in
accordance with Title 17 of the Commercial Law Article, the
Maryland Uniform Disposition of [Unclaimed] ABANDONED Property
Act.

(2)  The director-trustees or receiver are released
and discharged from all further liability in the matter on
payment or delivery of all unclaimed assets to the abandoned
property unit of the State Comptroller's office.

3-603.

(a) For purposes of subsection (b) of this section:

(3)  "Valuation date" means:

(i) For a business combination voted upon by
stockholders, the latter of the day prior to the date of the
[stockholders] STOCKHOLDERS' vote or the day 20 days prior to the
consummation of the business combination; and

(ii) For a business combination not voted upon
by stockholders, the date of the consummation of the business
combination.