2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
345.37 PROPERTY HELD BY FIDUCIARIES.
All intangible personal property and any income or increment thereon, held in a fiduciary
capacity for the benefit of another person is presumed abandoned unless the owner has, within
three years after it becomes payable or distributable, increased or decreased the principal,
accepted payment of principal or income, corresponded in writing concerning the property, or
otherwise indicated an interest as evidenced by a memorandum on file with the fiduciary if:
(a) the property is held by a banking organization or a financial organization or by a business
association organized under the laws of or created in this state; or
(b) it is held by a business association, doing business in this state, but not organized under
the laws of or created in this state, and the records of the business association indicate that the last
known address of the person entitled thereto is in this state; or
(c) it is held in this state by any other person.
History: 1969 c 725 s 7; 1977 c 137 s 6; 3Sp1981 c 2 art 1 s 61; 1992 c 513 art 3 s 66
All intangible personal property and any income or increment thereon, held in a fiduciary
capacity for the benefit of another person is presumed abandoned unless the owner has, within
three years after it becomes payable or distributable, increased or decreased the principal,
accepted payment of principal or income, corresponded in writing concerning the property, or
otherwise indicated an interest as evidenced by a memorandum on file with the fiduciary if:
(a) the property is held by a banking organization or a financial organization or by a business
association organized under the laws of or created in this state; or
(b) it is held by a business association, doing business in this state, but not organized under
the laws of or created in this state, and the records of the business association indicate that the last
known address of the person entitled thereto is in this state; or
(c) it is held in this state by any other person.
History: 1969 c 725 s 7; 1977 c 137 s 6; 3Sp1981 c 2 art 1 s 61; 1992 c 513 art 3 s 66
Official Publication of the State of Minnesota
Revisor of Statutes