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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Minnesota Statutes Animals and Property (Ch. 343-348) § 345.321. Dormancy charge for money orders - last updated January 01, 2025 | https://codes.findlaw.com/mn/animals-and-property-ch-343-348/mn-st-sect-345-321/
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