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Can you summarize MNST 336.3-312?
UNIFORM COMMERCIAL CODE > LOST, DESTROYED, OR STOLEN CASHIER'S CHECK, TELLER'S CHECK, OR CERTIFIED CHECK.
Short Summary
This section of the Minnesota Statutes, under the Trade Regulations and Consumer Protection section, pertains to the process and requirements for claimants who have lost, destroyed, or had their cashier’s check, teller’s check, or certified check stolen. The section defines key terms such as ‘check’ (which includes cashier’s check, teller’s check, or certified check), ‘claimant’ (the person claiming the right to receive the amount of the lost, destroyed, or stolen check), and ‘declaration of loss’ (a statement made under penalty of perjury regarding the loss of the check). The section outlines the steps a claimant must take to assert a claim, including providing a declaration of loss and reasonable identification if requested by the obligated bank. It also establishes the enforceability of the claim and the obligations of the obligated bank. Additionally, it addresses the obligations of the claimant if the check is presented for payment by a person with rights of a holder in due course. This section provides clarity and guidance for claimants seeking to recover the amount of a lost, destroyed, or stolen cashier’s check, teller’s check, or certified check.
Whom does it apply to?
Claimants who have lost, destroyed, or had their cashier's check, teller's check, or certified check stolen
What does it govern?
LOST, DESTROYED, OR STOLEN CASHIER'S CHECK, TELLER'S CHECK, OR CERTIFIED CHECK
What are exemptions?
No exemptions are mentioned
What are the Penalties?
No penalties are mentioned
Jurisdiction
Minnesota