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§ 17-202. Agreement with federal government

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 17. Disposition of Abandoned Property (Refs & Annos)
Subtitle 2. Abandoned Property in Federal Custody (Refs & Annos)
MD Code, Commercial Law, § 17-202
§ 17-202. Agreement with federal government
(a) The Administrator shall endeavor to enter into an agreement with the federal government concerning abandoned property in federal custody.
(b) The agreement shall provide:
(1) Unless federal law provides otherwise, that tangible abandoned property in federal custody that was initially acquired in this State shall be delivered to the Administrator;
(2) That if the last known address of any owner of intangible abandoned property in federal custody is in this State:
(i) The situs of the abandoned property is in this State, and the abandoned property shall be delivered to the Administrator; and
(ii) That the address of any other owner of the abandoned property in federal custody is determined by federal law;
(3) For payment of the State's proportionate share of costs incurred by the federal government in:
(i) Investigating records of abandoned property;
(ii) Reporting information about abandoned property to the Administrator; and
(iii) Delivering the abandoned property to the Administrator;
(4) The manner and times of payment, including a provision that payments may be made at stated times over a period of years;
(5) That this State indemnifies the federal government against any claim made as a result of the delivery of abandoned property to this State under the agreement; and
(6) That the Attorney General of this State shall intervene in any action or proceeding brought against the federal government as a result of action taken in accordance with the agreement.

Credits

Added by Acts 1981, c. 752, § 1, eff. July 1, 1981.
MD Code, Commercial Law, § 17-202, MD COML § 17-202
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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