HF 1369

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to political subdivisions; providing that 
  1.3             certain checks of a political subdivision are exempt 
  1.4             from Minnesota Statutes, sections 345.31 to 345.60; 
  1.5             amending Minnesota Statutes 1998, section 345.38, by 
  1.6             adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1998, section 345.38, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 4.  [UNCASHED CHECKS OF POLITICAL SUBDIVISION.] A 
  1.11  check issued by a political subdivision that has not been 
  1.12  presented for payment within three years of its issuance is 
  1.13  property that is exempt from sections 345.31 to 345.60.  The 
  1.14  issuer may void the check and its financial accounts may be 
  1.15  adjusted accordingly.