108OAG21

Gen. 21] 21 ABANDONED PROPERTY STATUTORY INTERPRETATION – MARYLAND 529 – WHETHER THE MARYLAND UNIFORM DISPOSITION OF ABANDONED PROPERTY ACT APPLIES TO ACCOUNTS IN THE PROGRAMS OFFERED BY MARYLAND 529 May 15, 2023 Geoffrey F. Newman Board Chair, Maryland

529 Maryland 529

has asked whether the Maryland Uniform Disposition of Abandoned Property Act (the “Abandoned Property Act,” or the “Act”) applies to accounts in the three tax-advantaged college and disability savings programs that Maryland 529 offers. If the Act applies to the accounts, Maryland 529 has also asked for guidance on how to comply…