MN SF4366

Establishes the "Revised Minnesota Unclaimed Property Act" under new Minnesota Statutes chapter 345A, replacing and repealing the existing Uniform Disposition of Unclaimed Property Act (sections 345.31-345.60)

Sets abandonment periods for various property types: 3 years for most deposits, securities, and tax-deferred accounts; 7 years for money orders; 15 years for traveler's checks; 1 year for utility deposits and unpaid wages

Exempts gift cards, loyalty cards, game-related digital content, safe deposit box contents, and public pension fund property from unclaimed property reporting requirements

Requires holders to notify apparent owners 60-180 days before filing abandonment reports for property valued at $50 or more, and mandates electronic reporting to the Commissioner of Commerce

Authorizes the commissioner to examine holder records, contract for examinations, impose 12% annual interest on unpaid property after written demand, and establishes penalties including misdemeanor for failure to report and gross misdemeanor for willful refusal to deliver property