Md. Code, Com. § 17-306

Current with changes from the 2024 Legislative Session

Section 17-306 - When property presumed abandoned - Intangible personal property held in fiduciary capacity

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.

Md. Code, CL § 17-306