The Sales of Unclaimed Securities

The Maryland Department of Comptroller, Office of Administration & Finance is requesting proposals for the sale of unclaimed securities held by the state under RFP #BPM0541511, with proposals due January 16, 2026 at 2:00 p.m. local time. Amendment #2, posted January 13, 2026, clarifies invoicing, bonding, and commission structure. The scope is highly restrictive: bidders must be current members of all principal stock exchanges (New York, American, NASDAQ, and OTC) and current participants in the Depository Trust Company (DTC), with documentation required.

Minimum qualifications are rigid. The bidder must document three consecutive years of recent experience (within the past ten years) providing unclaimed securities sales at a minimum of $1 million per year, supported by Attachment L Reference Checks with one or more completed references. These are mandatory eligibility filters; failure to meet any disqualifies the bid.

Compensation is commission-based. The contractor submits a commission rate per share sold on the Bid Form (Attachment B), calculates commissions with each trade, reduces the principal amount by the commission, and remits the net amount to the Comptroller within one business day of trade settlement. The State reconciles remittances monthly. All fees must be included in the stated commission rate; the State provides no reimbursement for additional costs or expenses. The State will not pay commissions on worthless stock certificates.

Each bidder must submit a bid bond or other suitable security equal to five percent of the Total Evaluated Price, guaranteeing availability of goods and services at the offered price for 180 days following the bid due date. No estimated contract value or contract term is stated. The procurement applies to Anne Arundel County jurisdiction within Maryland.