The Administrator shall: Attempt to discover abandoned property in federal custody that is unclaimed by an owner who is presumed to have an address in this State; and Institute proceedings for a judicial determination of this State’s rights to receive custody of any abandoned property in federal custody.

The Administrator shall endeavor to enter into an agreement with the federal government concerning abandoned property in federal custody. The agreement shall provide: Unless federal law provides otherwise, that tangible abandoned property in federal custody that was initially acquired in this State shall be delivered to the Administrator; That if the last known address of any owner of intangible abandoned property in federal custody is in this State: The situs of the abandoned property is in this State, and the abandoned property shall be delivered to the Administrator; and That the address of any other owner of the abandoned property in federal custody is determined by federal law; For payment of the State’s proportionate share of costs incurred by the federal government in: Investigating records of abandoned property; Reporting information about abandoned property to the Administrator; and Delivering the abandoned property to the Administrator; The manner and times of payment, including a provision that payments may be made at stated times over a period of years; That this State indemnifies the federal government against any claim made as a result of the delivery of abandoned property to this State under the agreement; and That the Attorney General of this State shall intervene in any action or proceeding brought against the federal government as a result of action taken in accordance with the agreement.

As to any claim made because of action taken in accordance with an agreement made under this subtitle: This State consents to suit by any claimant against the federal government; and Any defense of the federal government is available to this State.

The Governor shall certify to the federal government the provisions of an agreement made under this subtitle. The certification shall be made on the thirtieth of June next following the effective date of the agreement as provided by federal law.

When the federal government reports abandoned property to the Administrator under the agreement, the Administrator shall forward a copy of the report to the clerk of the circuit court for each county in the State. Each clerk of the circuit court shall post the report of abandoned property in federal custody at the court house for the county for 60 days.

Any person who asserts an interest in abandoned property in federal custody: May elect to claim against the federal government; or Within 90 days of the posting of the report of abandoned property in federal custody, shall notify the Administrator of the asserted interest and intent to claim. If the Administrator receives notice under this section, the abandoned property in question shall be omitted from any claim by this State until a final judicial determination is made of the claim.

If a judicial determination is made against a claimant of abandoned property in federal custody, the claimant may not assert a claim against this State.

The expiration of any limitations period set by statute or court order does not affect the right of this State to acquire possession of abandoned property in federal custody.

This subtitle shall be construed to effect its general purpose to make uniform the laws of those states which enact it.