ROBERT L. EHRLICH, JR., Governor                               Ch. 37

payable on demand, from the date of its issuance, unless, within 4 years or 15 years
in the case of a traveler's check, the owner has:

(i) Corresponded in writing with the banking or financial
organization or business association concerning it; or

(ii) Otherwise indicated an interest as evidenced by a
memorandum on file with the banking or financial organization or business
association; and

(4) Any property removed from a safekeeping repository on which the
lease or rental period has expired or any surplus amounts arising from the sale of the
property pursuant to law, that have been unclaimed by the owner for more than 4
years from the date on which the lease or rental period expired.

17-308.2.

NOT MORE THAN 120 DAYS OR LESS THAN 30 DAYS BEFORE THE FILING OF THE
REPORT REQUIRED UNDER § 17-310 OF THIS SUBTITLE, THE HOLDER IN POSSESSION
OF PRESUMED ABANDONED PROPERTY SHALL SEND A WRITTEN NOTICE BY
FIRST-CLASS MAIL TO THE APPARENT OWNER OF THE PRESUMED ABANDONED
PROPERTY TO THE OWNER'S LAST KNOWN ADDRESS INFORMING THE OWNER THAT:

(1)      THE HOLDER IS IN POSSESSION OF PROPERTY SUBJECT TO THE
PROVISIONS OF THIS TITLE; AND

(2)      THE PROPERTY WILL BE CONSIDERED ABANDONED UNLESS THE
OWNER RESPONDS WITHIN 30 DAYS OF THE NOTIFICATION TO THE HOLDER

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2003.

Approved April 8, 2003.

CHAPTER 37
(House Bill 203)

AN ACT concerning

Frederick County - Public Facilities Bonds

FOR the purpose of authorizing and empowering the County Commissioners of
Frederick County, from time to time, to borrow not more than $101,000,000 in
order to finance the cost of certain public facilities in Frederick County, as
herein defined, and to effect such borrowing by the issuance and sale at public or
private sale of its general obligation bonds; empowering the County to fix and
determine, by resolution, the form, tenor, interest rate or rates or method of
determining the same, terms, conditions, maturities, and all other details
incident to the issuance and sale of the bonds; empowering the County to issue
refunding bonds for the purchase or redemption of bonds in advance of maturity;

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