2006 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2006 Statutes New, Amended or Repealed
- 2006 Table of Chapters
- 2006 Statutes Topics (Index)
Chapter 308A
Section 308A.711
Recent History
- 2020 Subd. 1 Amended 2020 c 83 art 1 s 79
- 2005 Subd. 1 Amended 2005 c 109 s 1
- 2005 Subd. 2 Repealed 2005 c 109 s 8
- 2005 Subd. 3 Amended 2005 c 109 s 2
- 2000 Subd. 1 Amended 2000 c 483 s 49
This is an historical version of this statute chapter. Also view the most recent published version.
308A.711 DISTRIBUTION OF UNCLAIMED PROPERTY.
Subdivision 1. Alternate procedure to disburse property. Notwithstanding the provisions
of section 345.43, a cooperative may, in lieu of paying or delivering to the commissioner of
commerce the unclaimed property specified in its report of unclaimed property, distribute the
unclaimed property to a corporation or organization that is exempt from taxation under section
290.05, subdivision 1, paragraph (b), or 2.
Subd. 2.[Repealed, 2005 c 109 s 8]
Subd. 3. Owner's right extinguished on disbursement. The right of an owner to unclaimed
property held by a cooperative is extinguished when the property is disbursed by the cooperative
to a tax-exempt organization if: (1) notice that the payment is available has been mailed to the last
known address of the person shown by the records to be entitled to the property; or (2) the address
is unknown, notice is published in an official publication of the cooperative.
History: 1989 c 144 art 1 s 39; 2000 c 483 s 49; 2005 c 109 s 1,2
Subdivision 1. Alternate procedure to disburse property. Notwithstanding the provisions
of section 345.43, a cooperative may, in lieu of paying or delivering to the commissioner of
commerce the unclaimed property specified in its report of unclaimed property, distribute the
unclaimed property to a corporation or organization that is exempt from taxation under section
290.05, subdivision 1, paragraph (b), or 2.
Subd. 2.[Repealed, 2005 c 109 s 8]
Subd. 3. Owner's right extinguished on disbursement. The right of an owner to unclaimed
property held by a cooperative is extinguished when the property is disbursed by the cooperative
to a tax-exempt organization if: (1) notice that the payment is available has been mailed to the last
known address of the person shown by the records to be entitled to the property; or (2) the address
is unknown, notice is published in an official publication of the cooperative.
History: 1989 c 144 art 1 s 39; 2000 c 483 s 49; 2005 c 109 s 1,2
Official Publication of the State of Minnesota
Revisor of Statutes