language to be deleted (2) new language
Laws of Minnesota 1991 CHAPTER 11-S.F.No. 246 An act relating to probate; increasing the limit on an estate subject to collection of personal property by affidavit; amending Minnesota Statutes 1990, section 524.3-1201. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Minnesota Statutes 1990, section 524.3-1201, is amended to read: 524.3-1201 [COLLECTION OF PERSONAL PROPERTY BY AFFIDAVIT.] (a) Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action to a person claiming to be the successor of the decedent, or a county agency with a claim authorized by section 256B.15, upon being presented a certified death certificate of the decedent and an affidavit, in duplicate, made by or on behalf of the successor stating that: (1) the value of the entire probate estate, wherever located, less liens and encumbrances, does not exceed
$5,000$10,000; (2) 30 days have elapsed since the death of the decedent; (3) no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and (4) the claiming successor is entitled to payment or delivery of the property. (b) A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (a). (c) The claiming successor or county agency shall disburse the proceeds collected under this section to any person with a superior claim under section 524.3-805 or 525.15. Presented to the governor March 22, 1991 Signed by the governor March 26, 1991, 9:40 a.m.