PRIA Logo™
MarylandSB 06652025 Regular SessionSenateWALLET

Maryland Uniform Disposition of Abandoned Property Act – Revisions

Sponsored By: Sponsor information unavailable

Signed by Governor

Commercial Law - GenerallyAbandoned PropertyAgents and BrokersBeneficiariesChecksCircuit CourtsCivil Actions -see also- Small ClaimsClaimsCommunications -see also- ElecComm; Intergov; Telecom; etc.ComptrollerContracts -see also- ProcurementCryptocurrencyCybersecurityDeath -see also- Homicide; Murder; Wrongful DeathDebt ManagementDisclosureElectronic Commerce -see also- Electronic Funds TransferElectronic CommunicationElectronic DocumentsElectronic Funds TransferElectronic GovernmentEvidenceFinancial Institutions -see also- Banks; Credit Unions; etc.HearingsInsurance -see also- Health Ins; MAIF; Motor Vehicle InsInvestments -see also- SecuritiesNoticesPersonal PropertyPostal ServiceRecords -see also- Land Records; Vital RecordsRetirement -see also- Mandatory RetirementSecuritiesTelecommunications and Information TechnologyTime

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

11 provisions identified: 3 benefits, 3 costs, 5 mixed.

Public notices cover smaller unclaimed amounts

Beginning October 1, 2025, Maryland lowers its unclaimed-property publication threshold from $100 to $50. Items worth $50 to less than $100 no longer fall below that threshold. The Comptroller need not publish notices for items below $50, but may do so in the public interest.

Small property claims can skip forms

Beginning October 1, 2025, the Comptroller may waive claim filing for property or payments worth $5,000 or less. The recipient must be the apparent owner listed in a required report. The Comptroller must reasonably believe that person is entitled to payment; the waiver is not automatic. For allowed claims, Maryland must return the property or pay net sale proceeds within six months after approval. Required government-debt payments still come first.

Maryland reserves money for property claims

Beginning October 1, 2025, Maryland must retain up to $5 million each fiscal year from unclaimed-property proceeds for technology costs. Covered uses include cybersecurity, customer-relations systems, and unclaimed-property management. The Comptroller must also reserve the amount reasonably estimated to cover allowed claims. This replaces the former $50,000 claims-reserve cap.

Gift cards stay outside property claims

Beginning October 1, 2025, gift cards and gift certificates are excluded from property covered by Maryland's abandoned-property law. Their balances are not handled through this law's state unclaimed-property process.

Unclaimed money pays government debts first

Beginning October 1, 2025, Maryland must apply unclaimed property or sale proceeds to identified or certified government debts before returning money. Covered debts include unpaid State, county, and city taxes. The law removes the old $100 threshold, so even smaller amounts can go toward debts. The Comptroller may check for enforceable debts and apply property even without an owner filing a claim. The owner must receive notice of the payment.

Dormant cryptocurrency must be sold

Beginning October 1, 2025, virtual currency is presumed abandoned after five years without an owner's indication of interest. The holder must sell it within 30 days before filing the required report and send Maryland the proceeds. Any later gains belong to the holder. Owners cannot recover those gains from the holder or the Comptroller.

Account activity counts, with new limits

Beginning October 1, 2025, account use, account changes, messages, and insurance premium payments can show continued owner interest. Oral contacts count only when the holder records and keeps them at the time. Automatic deposits or withdrawals count only with prior owner approval; automatic dividend or interest reinvestments do not count. Account access also affects the abandonment clock for specified bank and financial accounts. Holders that do not send first-class mail must try email within two years after the last sign of owner interest.

Address records guide unclaimed property custody

Beginning October 1, 2025, a state code can establish an owner's last-known state even without a usable mailing address. A Maryland post-office ZIP code can point to Maryland unless related records specifically show a physical address in another state. The law repeals the old, broader insurance-beneficiary address presumption and replaces it with a narrower rule. The insured's or annuity holder's address is used only when the other payee's address is unknown and cannot otherwise be determined.

Dormant retirement accounts get contact safeguards

Beginning October 1, 2025, the payee is treated as the owner of a qualifying tax-deferred pension or retirement account. Abandonment timing depends on returned mail and, when applicable, age-72 or death-related required-distribution periods. Holders must try to confirm reported deaths within 90 days when the death-related rule applies. Without first-class mail, holders must try email within two years after the last sign of owner interest. Registered mail is required when email is unavailable, unsuccessful, or unanswered for 30 days.

Insurers check deaths and transfer unclaimed funds

Beginning October 1, 2025, insurers must check insured people and annuity holders against the Death Master File annually and record comparison dates. Qualifying matches establish presumed death unless the insurer has strong evidence the person is alive; contract claims are still required. Life, endowment, and annuity funds are presumed abandoned when unclaimed more than three years after becoming due and payable. The law also removes an automatic-premium-loan and policy-protection rule. That rule said those features did not prevent maturity or termination when death or entitlement preceded exhaustion of cash value.

Property claims get court review deadlines

Beginning October 1, 2025, claimants generally must file Maryland's form and verify that their claim is complete and accurate. The Comptroller must notify claimants of decisions; denials must explain the reason and identify additional evidence needed. Claimants may amend their claims, with an amended claim treated as the initial claim. No action within six months counts as a denial. Claimants may sue in circuit court within 90 days after a decision, or within one year of filing after agency inaction.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 225 • No: 0

Senate vote • 4/2/2025

Third Reading Passed

Yes: 47 • No: 0

House vote • 3/31/2025

Third Reading Passed

Yes: 132 • No: 0 • Other: 3

Senate vote • 2/27/2025

Third Reading Passed

Yes: 46 • No: 0 • Other: 1

Actions Timeline

  1. Approved by the Governor - Chapter 635

    5/20/2025

  2. Passed Enrolled

    4/2/2025Senate

  3. Third Reading Passed (47-0)

    4/2/2025Senate

  4. Senate Concurs House Amendments

    4/2/2025Senate

  5. Third Reading Passed (132-0)

    3/31/2025House

  6. Second Reading Passed with Amendments

    3/28/2025House

  7. Favorable with Amendments {193529/1 Adopted

    3/28/2025House

  8. Favorable with Amendments Report by Health and Government Operations

    3/28/2025House

  9. Hearing 3/25 at 1:00 p.m.

    3/15/2025House

  10. Referred Health and Government Operations

    2/28/2025House

  11. Third Reading Passed (46-0)

    2/27/2025Senate

  12. Second Reading Passed

    2/25/2025Senate

  13. Favorable Adopted

    2/25/2025Senate

  14. Favorable Report by Finance

    2/24/2025Senate

  15. Hearing 2/13 at 1:00 p.m.

    1/30/2025Senate

  16. First Reading Finance

    1/29/2025Senate

Bill Text

  • Enacted

    5/20/2025

    PDF

  • Enrolled

    4/2/2025

    PDF

  • Third Reading

    2/25/2025

    PDF

  • First Reading

    1/29/2025

    PDF

Related Bills

Back to State Legislation