2006 Minnesota Statutes

345.321 DORMANCY CHARGE FOR MONEY ORDERS.
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.
History: 2000 c 488 art 2 s 23