Minnesota § 345.321 DORMANCY CHARGE FOR MONEY ORDERS

Minnesota Statutes

§ 345.321 — DORMANCY CHARGE FOR MONEY ORDERS

Minnesota § 345.321

PartANIMALS AND PROPERTY

Ch. 345UNCLAIMED PROPERTY

This text of Minnesota § 345.321 (DORMANCY CHARGE FOR MONEY ORDERS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 345.321 (2026).

Text

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.

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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.