Proposed Maryland Bill Amends Required Practice for Abandoned Personal Property Valued Over $1000
January 4, 2022
Maryland Senate Bill 60, which would amend current requirements regarding abandoned personal property valued over $1000, will be introduced to the State Senate on January 12, 2022. Currently, the state requires holders of personal property over $100 to notify the owner by first-class mail. If the proposed bill is passed, the holder of presumed abandoned property valued over $1000 would be required to send written notice to the apparent owner by certified mail, return receipt requested, to the owner’s last known address. By mailing a certified letter with return receipt requested, the holder will have record of the attempted contact with the owner of the property and will be required to maintain this record for up to three years. This would be a change in policy for the state of Maryland, which currently requires the owner to be notified only by first-class mail. Holders of abandoned personal property valued between $100-$999 will continue to be required to provide notification to the owner by first-class mail.
For full bill text, please click the source link above.