(a) In this section, “Fund” means the Undeliverable Checks Fund.
(b) There is an Undeliverable Checks Fund.
(c) If a check that the Treasurer, the Chief Deputy Treasurer, or a deputy treasurer issues is returned to the Comptroller as undeliverable, the Comptroller:
(1) shall keep the check for a period of not more than 30 days;
(2) during that period, shall try diligently to find the correct address of the payee and to deliver the check; and
(3) if unable to deliver the check during that period, shall send the check to the Treasurer.
(d) Whenever the Comptroller returns a check as undeliverable, the Treasurer shall:
(1) cancel the check; and
(2) request the Comptroller to credit the amount of the canceled check to the Fund.
(e) On a warrant charged against the Fund, the Treasurer, the Chief Deputy Treasurer, or a deputy treasurer may issue a check to replace a check canceled under this section.
(f) As required by State or federal law, or as considered proper by the Treasurer, the Treasurer, the Chief Deputy Treasurer, or a deputy treasurer shall:
(1) on a warrant charged against the Fund, disburse to the original source any money in the Fund required to be returned to the source; or
(2) request the Comptroller to transfer any money in the Fund to another fund or account.
(g) At the end of each fiscal year, the Treasurer:
(1) shall identify the checks that have been credited to the Fund and remain unclaimed for 2 years;
(2) determine a reasonable balance to retain in the Fund that will be needed to honor each replacement check that may be issued on a warrant charged against the Fund; and
(3) request the Comptroller to transfer the balance in the Fund, after subtraction of the amount determined as provided in item (2) of this subsection, to the General Fund of the State.
(h) Undeliverable checks credited to the Fund are not subject to Title 17 of the Commercial Law Article.
(i) Notwithstanding Title 4, Subtitle 3, Part III of the General Provisions Article, at the end of each fiscal year, the Treasurer may electronically publish on the Treasurer’s Web site the names of payees of checks that have remained unclaimed for 2 years or more.