HARRY HUGHES, Governor

101

(2) (ii) The policy was in force at the time the
insured attained, or would have attained, the limiting age
specified in [subparagraph (i)] ITEM (I) OF THIS PARAGRAPH; and

DRAFTER'S NOTE: This corrects a stylistic error in §
17-302(c)(2)(ii) of the Commercial Law Article.

The stylistic error was contained in Ch. 602 of the
Acts of the Regular Session of the General Assembly of
1985.

The stylistic error was noted by the Michie Company.

17-304.

(b) This section shall apply to the stock or other
certificate of ownership on, for or from which the amounts
described in subsection (a) OF THIS SECTION 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.

(d) The running of the 5-year period of abandonment ceases
immediately upon the occurrence of a communication referred to in
subsection (b) OF THIS SECTION. 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.

(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) OF THIS
SECTION.

(g)  The holder of an interest under [§ 17-304 of this
article] THIS SECTION 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