Maryland Code, COMMERCIAL LAW 17-317
Terms Used In Maryland Code, COMMERCIAL LAW 17-317
- Administrator: includes an executor and a personal representative. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- including: means includes or including by way of illustration and not by way of limitation. See
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(ii) The Administrator shall retain in the special fund at the end of each fiscal year, from the proceeds received, an amount not to exceed $50,000, from which sum the Administrator shall pay any claim allowed under this title.
(2) After deducting all costs incurred in administering this title from the remaining net funds the Administrator shall distribute $8,000,000 to the Maryland Legal Services Corporation Fund established under § 11-402 of the Human Services Article.
(3) (i) Subject to subparagraph (ii) of this paragraph, the Administrator shall distribute all unclaimed money from judgments of restitution under Title 11, Subtitle 6 of the Criminal Procedure Article to the State Victims of Crime Fund established under § 11-916 of the Criminal Procedure Article to assist victims of crimes and delinquent acts to protect the victims’ rights as provided by law.
(ii) If a victim entitled to restitution that has been treated as abandoned property under § 11-614 of the Criminal Procedure Article is located after the money has been distributed under this paragraph, the Administrator shall reduce the next distribution to the State Victims of Crime Fund by the amount recovered by the victim.
(4) For fiscal years 2022 and 2023, after making the distributions required under paragraphs (2) and (3) of this subsection, the Administrator shall distribute $250,000 from the remaining net funds to the Tax Clinics for Low-Income Marylanders Fund established under § 1-206 of the Tax – General Article.
(5) For fiscal year 2024, after making the distributions required under paragraphs (2), (3), and (4) of this subsection, the Administrator shall distribute $14,000,000 from the remaining net funds to the Access to Counsel in Evictions Special Fund under § 8-909 of the Real Property Article.
(6) After making the distributions required under paragraphs (2), (3), (4), and (5) of this subsection, the Administrator shall distribute the remaining net funds not retained under paragraph (1) of this subsection to the General Fund of the State.
(b) (1) Before making the distribution, the Administrator shall record the name and last known address, if any, of the owners of funds so distributed and the type of property which the funds distributed represent.
(2) The record shall be available for public inspection during reasonable business hours by any person who claims a legal interest in any property held by the Administrator, provided that the person gives prior notice to the Administrator.
§17-317. // EFFECTIVE DECEMBER 31, 2023 PER CHAPTERS 678 AND 679 OF 2021 //
// EFFECTIVE UNTIL DECEMBER 31, 2024 PER CHAPTER 40 OF 2022 //
(a) (1) All funds received under this title, including the proceeds of the sale of abandoned property under § 17-316 of this subtitle, shall be credited by the Administrator to a special fund. The Administrator shall retain in the special fund at the end of each fiscal year, from the proceeds received, an amount not to exceed $50,000, from which sum the Administrator shall pay any claim allowed under this title.
(2) After deducting all costs incurred in administering this title from the remaining net funds the Administrator shall distribute $8,000,000 to the Maryland Legal Services Corporation Fund established under § 11-402 of the Human Services Article.
(3) (i) Subject to subparagraph (ii) of this paragraph, the Administrator shall distribute all unclaimed money from judgments of restitution under Title 11, Subtitle 6 of the Criminal Procedure Article to the State Victims of Crime Fund established under § 11-916 of the Criminal Procedure Article to assist victims of crimes and delinquent acts to protect the victims’ rights as provided by law.
(ii) If a victim entitled to restitution that has been treated as abandoned property under § 11-614 of the Criminal Procedure Article is located after the money has been distributed under this paragraph, the Administrator shall reduce the next distribution to the State Victims of Crime Fund by the amount recovered by the victim.
(4) For fiscal year 2024, after making the distributions required under paragraphs (2) and (3) of this subsection, the Administrator shall distribute $14,000,000 from the remaining net funds to the Access to Counsel in Evictions Special Fund under § 8-909 of the Real Property Article.
(5) After making the distributions required under paragraphs (2), (3), and (4) of this subsection, the Administrator shall distribute the remaining net funds not retained under paragraph (1) of this subsection to the General Fund of the State.
(b) Before making the distribution, the Administrator shall record the name and last known address, if any, of the owners of funds so distributed and the type of property which the funds distributed represent. The record shall be available for public inspection during reasonable business hours by any person who claims a legal interest in any property held by the Administrator, provided that the person gives prior notice to the Administrator.
§17-317. // EFFECTIVE DECEMBER 31, 2024 PER CHAPTER 40 OF 2022 //
(a) (1) All funds received under this title, including the proceeds of the sale of abandoned property under § 17-316 of this subtitle, shall be credited by the Administrator to a special fund. The Administrator shall retain in the special fund at the end of each fiscal year, from the proceeds received, an amount not to exceed $50,000, from which sum the Administrator shall pay any claim allowed under this title.
(2) After deducting all costs incurred in administering this title from the remaining net funds the Administrator shall distribute $8,000,000 to the Maryland Legal Services Corporation Fund established under § 11-402 of the Human Services Article.
(3) (i) Subject to subparagraph (ii) of this paragraph, the Administrator shall distribute all unclaimed money from judgments of restitution under Title 11, Subtitle 6 of the Criminal Procedure Article to the State Victims of Crime Fund established under § 11-916 of the Criminal Procedure Article to assist victims of crimes and delinquent acts to protect the victims’ rights as provided by law.
(ii) If a victim entitled to restitution that has been treated as abandoned property under § 11-614 of the Criminal Procedure Article is located after the money has been distributed under this paragraph, the Administrator shall reduce the next distribution to the State Victims of Crime Fund by the amount recovered by the victim.
(4) After making the distributions required under paragraphs (2) and (3) of this subsection, the Administrator shall distribute the remaining net funds not retained under paragraph (1) of this subsection to the General Fund of the State.
(b) Before making the distribution, the Administrator shall record the name and last known address, if any, of the owners of funds so distributed and the type of property which the funds distributed represent. The record shall be available for public inspection during reasonable business hours by any person who claims a legal interest in any property held by the Administrator, provided that the person gives prior notice to the Administrator.