2001 Minnesota Statutes

     345.321 Dormancy charge for money orders. 

    Notwithstanding any law to the contrary, a holder may 
 annually deduct, from a money order presumed abandoned, a charge 
 imposed by reason of the owner's failure to claim the property 
 within a specified time.  The holder may deduct the charge only 
 if:  (1) there is a valid and enforceable written contract 
 between the holder and the owner under which the holder may 
 impose the charge; (2) the holder regularly imposes the charge; 
 and (3) the charge is not regularly reversed or otherwise 
 canceled.  The total amount of the deduction is limited to an 
 amount that is not unconscionable. 

    HIST: 2000 c 488 art 2 s 23 

*   NOTE:  This section, as added by Laws 2000, chapter 488, 
*article 2, section 23, is effective July 1, 2001.