MN SF3303

Members and nonmember patrons of electric or telephone cooperatives must provide written notice of address changes to the cooperative by first class mail within 30 days of moving, including the new address and move date.

Real estate licensees or sellers must notify utility cooperatives providing services to the property within 30 days of sale through first class mail, including the seller's new address and sale date.

Reduces the timeframe for cooperative property to be presumed abandoned from seven years to three years after it becomes payable or distributable.

Repeals provisions allowing cooperatives to distribute unclaimed property to tax-exempt organizations without paying or delivering the property to the state, eliminating the ability to extinguish owner rights through such distributions.