Comptroller of the Treasury v. Immanuel

The Maryland Uniform Disposition of Abandoned Property Act 1 (the “Abandoned Property Act”) directs the Comptroller of the Treasury (“Comptroller”) to maintain a division for managing unclaimed property. The Abandoned Property Act renders the Comptroller the legal custodian of millions of dollars’ worth of unclaimed property, including stocks, bonds, savings accounts, security deposits, contents of safe deposit boxes, insurance proceeds, and other valuables that are reported as unclaimed by banks and other financial institutions. 2

Henry Immanuel is engaged in the business of locating the…