In Maryland, and per my company's HR policies, the two weeks notive serves two very important purposes.
1. If you fail to provide it, you are labelled "ineligible for re-hire," which is one of the two exclusive answers my HR can provide to other potential employers seeking information about my past employment status. The other being "eligible for re-hire."
2. It let's you leave on respectable and classy terms, without putting your employer in any predictament. Something more important to me personally, I guess.
All unused leave time is paid with your final paycheck in Maryland. It is also possible for Red Lemon's scenario to unfold in Maryland. Two weeks though is 80 hours, and any additional leave balances are paid to the employee.
In my company this is common, and employees who give two weeks notice are escorted out of the building by security, and if leave is accrued to account for the remaining two weeks it is used...if not they give it to you. In essence at my company, you want to resign with two weeks notice, having already cleaned out your kit, taken your weight in office supplies and with a zero leave balance.
Obviously, your mileage may vary.
-bear
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It's alot easier to ask for forgiveness then it is to ask for permission.
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