{"data":{"id":"us-mn/minn.-stat.-308a.711","jurisdiction":"us-mn","citation":"Minn. Stat. § 308A.711","heading":"DISTRIBUTION OF UNCLAIMED PROPERTY.","body":"Subdivision 1. Alternate procedure to disburse property.\nNotwithstanding the provisions of section 345.43, a cooperative may, in lieu of paying or delivering to the commissioner of commerce the unclaimed property specified in its report of unclaimed property, distribute the unclaimed property to a corporation or organization that is exempt from taxation under section 290.05, subdivision 1, clause (b), or 2.\nSubd. 2.\n[Repealed, 2005 c 109 s 8]\nSubd. 3. Owner's right extinguished on disbursement.\nThe right of an owner to unclaimed property held by a cooperative is extinguished when the property is disbursed by the cooperative to a tax-exempt organization if: (1) notice that the payment is available has been mailed to the last known address of the person shown by the records to be entitled to the property; or (2) the address is unknown, notice is published in an official publication of the cooperative.","path":["BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS","CHAPTER 308A. COOPERATIVE LAW","EARNINGS, RESERVE, AND DISTRIBUTION"],"source_url":"https://www.revisor.mn.gov/statutes/cite/308A.711","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:41Z","sha256":"51a4f57ea9d31972a2f22eb0e94969b996cac9520d0ed6db133c2ea2cbf708c9","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-308a.705","next":"us-mn/minn.-stat.-308a.801"},"notice":"GroundRules: Original legal text. Not legal advice."}