Ch. 584                                    1996 LAWS OF MARYLAND

(2) THAT A DEALER IS ENTITLED TO ACT IN RELIANCE ON A
REASONABLE INTERPRETATION OF THE REQUIREMENTS OF A FRANCHISE AND,

UNLESS THE MANUFACTURER, DISTRIBUTOR, OR FACTORY BRANCH

DEMONSTRATES THAT THE INTERPRETATION WAS UNREASONABLE UNDER THE
CIRCUMSTANCES, ANY ACTION TAKEN BY THE DEALER IN RELIANCE ON THE
INTERPRETATION SHALL BE DEEMED TO BE IN COMPLIANCE WITH THE FRANCHISE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1996.

Approved May 23, 1996.

CHAPTER 584
(Senate Bill 455)

AN ACT concerning

Abandoned Property - Gift Certificates

FOR the purpose of exempting gift certificates from the Maryland Uniform Disposition
of Abandoned Property Act; providing for the application of this Act; requiring the
Comptroller to take a certain action; providing for the effective date of this Act; and
generally relating to the Maryland Uniform Disposition of Abandoned Property
Act.

BY repealing and reenacting, with amendments,
Article - Commercial Law
Section 17-101
Annotated Code of Maryland
(1990 Replacement Volume and 1995 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Commercial Law

17-101.

(a)     In this title the following words have the meanings indicated.

(b)     (1) "Abandoned property" means personal property that is considered
abandoned under this title.

(2) "Abandoned property" includes property in the custody of the federal
government that is classified as "unclaimed property" under federal law.

(c)     "Administrator" means the State Comptroller.

(d)     "Banking organization" means any bank, trust company, savings bank, land
bank, and any other similar organization engaged in business in the State.

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