Subd. 1. Commissioner's duty to publish.

Within the calendar year next following the year in which abandoned property has been paid or delivered to the commissioner, the commissioner shall cause notice to be published at least once but not more than twice in an English language newspaper of general circulation in the county in this state in which is located the last known address of any person to be named in the notice. If no address is listed or if the address is outside this state, the notice shall be published in the county in which the holder of the abandoned property has a principal place of business within this state.

Subd. 2. Contents of published notice.

The published notice shall be entitled "notice of names of persons appearing to be owners of abandoned property," and shall contain:

1. (a) the names in alphabetical order and last known addresses, if any, of persons listed in the report and entitled to notice within the county as hereinbefore specified;
2. (b) a statement explaining that property of the owner has been presumed to be abandoned and has been taken into the protective custody of the commissioner; and

3. (c) a statement that information about the abandoned property and its return to the apparent owner may be obtained at any time by a person having a legal or beneficial interest in that property by making an inquiry to the commissioner.

   The commissioner is not required to publish in such notice any item of less than $100 unless the commissioner deems such publication to be in the public interest.

Subd. 3. Mailed notice.

Within the calendar year next following the year in which abandoned property has been paid or delivered to the commissioner, the commissioner may mail a notice to each person having an address listed therein who appears to be entitled to property of the value of $100 or more presumed abandoned under sections 345.31 to 345.60. Said notice shall contain:

1. (a) a statement that, according to a report filed with the commissioner, property is being held to which the addressee appears entitled;
2. (b) a statement explaining that property of the owner has been presumed to be abandoned and has been taken into the protective custody of the commissioner; and
3. (c) a statement that information about the abandoned property and its return to the apparent owner may be obtained at any time by a person having a legal or beneficial interest in that property by making an inquiry to the commissioner.

Subd. 4. Exceptions.

This section is not applicable to sums payable on traveler's checks or money orders presumed abandoned under section 345.32.