Laws Lawyers Find Laws Legal Forms State Laws Bills

MINNESOTA STATUTES AND CODES

Section 52.191 Inactive Accounts

Listen
52.191 INACTIVE ACCOUNTS.Whenever a member's share or deposit balance is less than $25 and the member has not transacted any business with the credit union for a period of at least three years, the board of directors, after giving 30 days' written notice by certified mail to the last known address of the member, may transfer the balance to the operating reserve fund of the credit union. Thereafter, subject to the law governing abandoned funds, the member may recover the funds in the account at the time of the transfer by making application to the credit union for such funds, but the credit union shall have no obligation to the member for the payment of dividends or interest on the funds after the transfer to the operating reserve. History:1969 c 453 s 1; 1994 c 382 s 10
Loading...
  • Play
  • Pause
  • Volume:
  • Mute
  • Half
  • Max
  • 52.191 INACTIVE ACCOUNTS.

    Whenever a member's share or deposit balance is less than $25 and the member has not transacted any business with the credit union for a period of at least three years, the board of directors, after giving 30 days' written notice by certified mail to the last known address of the member, may transfer the balance to the operating reserve fund of the credit union. Thereafter, subject to the law governing abandoned funds, the member may recover the funds in the account at the time of the transfer by making application to the credit union for such funds, but the credit union shall have no obligation to the member for the payment of dividends or interest on the funds after the transfer to the operating reserve.

    History:

    1969 c 453 s 1; 1994 c 382 s 10

    Minnesota Forms by Issue

    Minnesota Administration/Filing Fees Forms
    Minnesota Adoption Forms
    Minnesota Bankruptcy Forms
    Minnesota Business Forms
    Minnesota Child Support Agency Forms
    Minnesota Court Forms
    > Criminal
    > DUI
    > Probate
    > Traffic
    > Civil (District)
    > Domestic Violence
    > Enforcement of Judgement
    > Forfeiture
    > Service of Process
    > Small Claims
    > Subpoena
    Minnesota Divorce Forms
    Minnesota Expungement Forms
    Minnesota Family Forms
    Minnesota Guardianship Forms
    Minnesota Landlord/Tenant Forms
    Minnesota Name Change Forms
    Minnesota Parental Notification Forms
    Minnesota Spousal Support Forms
    Minnesota Tax Forms

    Minnesota Law

    Minnesota State Laws
        > Minnesota Child Support
        > Minnesota Child Support Online
        > Minnesota Gun Law
        > Minnesota State Tax
        > Minnesota Statute
    Minnesota Tax
        > Minnesota State Tax
    Minnesota Labor Laws
        > Minnesota Unemployment Benefits
    Minnesota Court
        > Minnesota Court Records
        > Near v. Minnesota
    Minnesota Agencies
        > Miinnesota Department of Health
        > Minnesota Department of Corrections
        > Minnesota Department of Education
        > Minnesota Department of Revenue
        > Minnesota Department of Transportation
        > Minnesota DMV
        > Minnesota Secretary of State

    Minnesota Court Map

    Tips