Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2885 - UNCLAIMED PROPERTY
Part 2885.0300 - SERVICE CHARGES
Current through Register Vol. 49, No. 13, September 23, 2024
The term "service charges" means any type of deduction by a holder, as defined in Minnesota Statutes, section 345.31, subdivision 5, from property presumed abandoned pursuant to the Uniform Disposition of Unclaimed Property Act, and also shall include:
A. for the types of property described in Minnesota Statutes, sections 345.32, 345.33, 345.35, and 345.37, deductions by a holder from property prior to the presumption of abandonment, which deductions are made by reason of the nonoccurrence of the events or acts that prevent the presumption of abandonment as described in those sections, or by reason of the inactivity, dormancy, or unclaimed status of the property; and
B. for the types of property described in Minnesota Statutes, sections 345.34, 345.36, 345.38, and 345.39, deductions by a holder from property prior to the presumption of abandonment, which deductions are made by reason of the inactivity, dormancy, or unclaimed status of the property.
Statutory Authority: MS s 345.56
