PARRIS N. GLENDENING, Governor                             Ch. 584

(e)     "Business association" means any corporation, joint stock company, business
trust, partnership, or any association for business purposes of two or more individuals.

(f)     "County" includes Baltimore City.

(g)     "Federal government" includes any of its agencies or instrumentalities.

(h) "Financial organization" means any savings and loan association or credit
union engaged in business in the State.

(i) "Holder" means any person who is:

(1)     In possession of property subject to this title belonging to another;

(2)     A trustee, in the case of a trust; or

(3)     Indebted to another on an obligation subject to this title.

(j) "Insurance corporation" means any association or corporation transacting in
the State the business of insurance on the lives of persons or insurance pertaining to life
insurance, including endowments and annuities, disability, accident and health insurance,
and property, casualty, and surety insurance, as these terms are defined in Article 48A of
the Code.

(k) "Owner" means:

(1)     In the case of a deposit, a depositor or a person entitled to receive the
funds as reflected on the records of the bank or financial organization;

(2)     In the case of a trust, a beneficiary;

(3)     In the case of other choses in action, a creditor, claimant, or payee;

(4)     In the case of abandoned property in federal custody, the person who is
defined as the owner by any applicable federal law; or

(5)     Any person who has a legal or equitable interest in property subject to
this title, or the legal representative of that person.

(1) "Person" includes the State, any county, municipal corporation, or other
political subdivision of the State, or any of their units, an individual, business association,
corporation, business trust, estate, trust, partnership, association, two or more persons
having a joint or common interest, or any other legal or commercial entity.

(M) "PERSONAL PROPERTY" DOES NOT INCLUDE A GIFT CERTIFICATE.

[(m)] (N) "Utility" means any person who owns or operates in the State, for public
use, any plant, equipment, property, franchise, or license for the transmission of
communications, for the production, storage, transmission, sale, delivery, or furnishing of
electricity, water, steam, or gas, or for the transportation of persons or property.

[(n)](O) "Service charge" means any type of deduction or charge made by a
holder on property presumed abandoned under this title.

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