§ 17-306. Presumption of abandonment; fiduciaries
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 17-306
§ 17-306. Presumption of abandonment; fiduciaries
All intangible personal property and any income or increment on it, held in a fiduciary capacity for the benefit of another person, is presumed abandoned unless, within 3 years after it becomes payable or distributable, the owner has increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property, or otherwise indicated an interest as evidenced by a memorandum on file with the fiduciary.
Credits
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 1981, c. 752; Acts 1981, c. 773, § 2; Acts 1981, c. 774, § 2; Acts 2002, c. 440, § 14, eff. June 1, 2002; Acts 2002, c. 440, § 20, eff. June 1, 2003.
Formerly Art. 95C, § 7.
MD Code, Commercial Law, § 17-306, MD COML § 17-306
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.
End of Document |