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HF 1424

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

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