345.40 RECIPROCITY FOR PROPERTY PRESUMED ABANDONED OR ESCHEATED
UNDER THE LAWS OF ANOTHER STATE.
If specific property which is subject to the provisions of sections
345.32,
345.35,
345.36,
345.37 and
345.39 is held for or owed or distributable to an owner whose last known address is in
another state by a holder who is subjected to the jurisdiction of that state, the specific property is
not presumed abandoned in this state and subject to sections
345.31 to
345.60 if:
(a) it may be validly claimed as abandoned or escheated under the laws of such other
state; and
(b) the laws of such other state make reciprocal provision that similar specific property is not
presumed abandoned or escheatable by such other state when held for or owed or distributable
to an owner whose last known address is within this state by a holder who is subject to the
jurisdiction of this state.
History: 1969 c 725 s 10