Kentucky Statutes 393A.190 – Custody if transaction took place in this state
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Except as in KRS § 393A.160, 393A.170, or 393A.180, the administrator may take custody of property presumed abandoned whether located in this state or another state if:
(1) The transaction out of which the property arose took place in this state;
(2) The holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder’s domicile, the property shall not be subject to the custody of the administrator; and
(3) The last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property shall not be subject to the custody of the administrator.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 19, effective July 14, 2018.
(1) The transaction out of which the property arose took place in this state;
Terms Used In Kentucky Statutes 393A.190
- Administrator: means the Kentucky State Treasurer. See Kentucky Statutes 393A.010
- Domicile: means :
(a) For a corporation, the state of its incorporation. See Kentucky Statutes 393A.010 - Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner, property subject to this chapter. See Kentucky Statutes 393A.010
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality or other legal entity. See Kentucky Statutes 393A.010
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Kentucky Statutes 393A.010
(2) The holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder’s domicile, the property shall not be subject to the custody of the administrator; and
(3) The last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property shall not be subject to the custody of the administrator.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 19, effective July 14, 2018.