(a) Except as provided in subsection (b) of this section, this title does not apply to any property that:
(1) Has been presumed abandoned or escheated under the laws of another state before June 1, 1966; or
(2) Is contained in an account that was established under:
(i) Title 18, Subtitle 19 of the Education Article;
(ii) Title 18, Subtitle 19A of the Education Article; or
(iii) Title 18, Subtitle 19C of the Education Article.
(b) This title applies to a sum payable on a check drawn against an account established under Title 18 of the Education Article.