2023 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
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.
History:
Official Publication of the State of Minnesota
Revisor of Statutes