WES MOORE, Governor Ch. 146
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Chapter 146
(Senate Bill 800)
AN ACT concerning
Maryland Uniform Disposition of Abandoned Property Act – Maryland 529
Program – Exemption
FOR the purpose of exempting certain accounts under the Maryland 529 Program and
certain sums payable from the accounts from the provisions of the Maryland Uniform
Disposition of Abandoned Property Act; and generally relating to the Maryland
Uniform Disposition of Abandoned Property Act.
BY repealing and reenacting, with amendments,
Article – Commercial Law
Section 17–104
Annotated Code of Maryland
(2013 Replacement Volume and 2023 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Commercial Law
17–104.
(A) This EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION , THIS
title does not apply to any property that [has]:
(1) HAS been presumed abandoned or escheated under the laws of another
state before June 1, 1966; OR
(2) IS CONTAINED IN AN AC COUNT OR IS A SUM PAYABLE ON A CHECK
DRAWN AGAINST AN ACC OUNT THAT WAS ESTABLISHED UNDER:
(I) TITLE 18, SUBTITLE 19 OF THE EDUCATION ARTICLE;
(II) TITLE 18, SUBTITLE 19A OF THE EDUCATION ARTICLE; OR
(III) TITLE 18, SUBTITLE 19C OF THE EDUCATION ARTICLE.
(B) THIS TITLE APPLIES TO A SUM PAYABLE ON A C HECK DRAWN AGAINST
AN ACCOUNT ESTABLISH ED UNDER TITLE 18 OF THE EDUCATION ARTICLE.
Ch. 146 2024 LAWS OF MARYLAND
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June
1, 2024.
Approved by the Governor, April 25, 2024.