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Current as of January 01, 2023 | Updated by FindLaw Staff
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.
Cite this article: FindLaw.com - Minnesota Statutes Animals and Property (Ch. 343-348) § 345.37. Property held by fiduciaries - last updated January 01, 2023 | https://codes.findlaw.com/mn/animals-and-property-ch-343-348/mn-st-sect-345-37/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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