EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb1150*
HOUSE BILL 1150
I4 4lr2889
CF SB 800
By: The Speaker (By Request – State Treasurer)
Introduced and read first time: February 7, 2024
Assigned to: Appropriations
A BILL ENTITLED
AN ACT concerning 1
Maryland Uniform Disposition of Abandoned Property Act – Maryland 529 2
Program – Exemption 3
FOR the purpose of exempting certain accounts under the Maryland 529 Program and 4
certain sums payable from the accounts from the provisions of the Maryland Uniform 5
Disposition of Abandoned Property Act; and generally relating to the Maryland 6
Uniform Disposition of Abandoned Property Act. 7
BY repealing and reenacting, with amendments, 8
Article – Commercial Law 9
Section 17–104 10
Annotated Code of Maryland 11
(2013 Replacement Volume and 2023 Supplement) 12
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 13
That the Laws of Maryland read as follows: 14
Article – Commercial Law 15
17–104. 16
This title does not apply to any property that [has]: 17
(1) HAS been presumed abandoned or escheated under the laws of another 18
state before June 1, 1966; OR 19
(2) IS CONTAINED IN AN ACCOUNT OR IS A SUM PAYABLE ON A C HECK 20
DRAWN AGAINST AN ACC OUNT THAT WAS ESTABL ISHED UNDER: 21
(I) TITLE 18, SUBTITLE 19 OF THE EDUCATION ARTICLE; 22 2 HOUSE BILL 1150
(II) TITLE 18, SUBTITLE 19A OF THE EDUCATION ARTICLE; OR 1
(III) TITLE 18, SUBTITLE 19C OF THE EDUCATION ARTICLE. 2
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 3
1, 2024. 4