Property Held by State Courts and Public Officers and Agencies

Subdivision 1. Personal property held by court or public authority. All intangible personal property held for the owner by any court, public corporation, public authority or public officer of this state, or a political subdivision thereof, that has remained unclaimed by the owner for more than three years is presumed abandoned except as provided in section 524.3-914. Subd. 2. Property held for persons in public institutions. This section shall not apply to property held for persons while residing in public correctional or other institutions. As to such persons, said property shall be presumed abandoned if it has remained unclaimed by the owner for more than three years after such residence ceases. Subd. 3. Personal property held by government or political subdivision or agency. All intangible personal property held for the owner by any government or political subdivision or agency, that has remained unclaimed by the owner for more than three years is presumed abandoned and is reportable pursuant to section 345.41, if: (a) the last known address as shown on the records of the holder of the apparent owner is in this state; or (b) no address of the apparent owner appears on the records of the holder; and (1) the last known address of the apparent owner is in this state; or (2) the holder is domiciled in this state and has not previously transferred the property to the state of the last known address of the apparent owner.