MD HB227

Unclaimed capital credits held by electric cooperatives for past members are exempt from Maryland's abandoned property (escheat) laws if at least 5 years have passed since the credits were retired and remain unclaimed

Electric cooperatives may use these nonescheat capital credits only to assist current cooperative members or to make donations to nonprofit charitable organizations approved by the cooperative's board of directors

Past members retain the right to claim refunds of their capital credits at any time, and cooperatives remain obligated to pay upon application

The law takes effect October 1, 2025