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Can you summarize MDCM Com. Law, Title 17, Subtitle 1?
Short Summary
This legal document provides definitions for various terms used in the Code of Maryland, specifically in the Commercial Law, Title 17, SubTitle 1. It defines terms such as ‘abandoned property’, ‘administrator’, ‘banking organization’, ‘business association’, ‘county’, ‘federal government’, ‘financial organization’, ‘holder’, ‘insurance corporation’, ‘owner’, ‘person’, ‘personal property’, ‘service charge’, and ‘utility’. The document also clarifies that ‘personal property’ does not include certain items such as gift certificates, credits in connection with the sale of consumer goods, outstanding checks or credits issued to vendors or commercial customers, credit balances in vendor or commercial customer accounts, and purchase price rebates issued to customers. The definitions provided in this document apply to individuals, business associations, corporations, trusts, partnerships, and other legal or commercial entities. No exemptions or penalties are mentioned in this document.
Whom does it apply to?
Individuals, business associations, corporations, trusts, partnerships, and other legal or commercial entities
What does it govern?
Definitions for various terms used in the Code of Maryland, specifically in the Commercial Law, Title 17, SubTitle 1
What are exemptions?
This title does not apply to any property that has been presumed abandoned or escheated under the laws of another state before June 1, 1966
What are the Penalties?
No penalties are mentioned in this document
Jurisdiction
Maryland