Kentucky Statutes 393A.470 – Expenses and service charges of administrator
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(1) In addition to the expenses permitted under KRS § 393.250, the administrator may deduct:
(a) Expenses of disposition of property delivered to the administrator under this chapter;
(b) Costs of mailing and publication in connection with property delivered to the administrator under this chapter;
(c) Reasonable service charges; and
(d) Expenses incurred in examining records of or collecting property from a putative holder or holder.
(2) In addition to any expenses in subsection (1) of this section, the administrator shall deduct the proportionate costs of advertisement and operations from the amount of any claim allowed in an amount greater than ten dollars ($10). The administrator shall deduct at least one dollar ($1).
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 47, effective July 14, 2018.
(a) Expenses of disposition of property delivered to the administrator under this chapter;
Terms Used In Kentucky Statutes 393A.470
- Administrator: means the Kentucky State Treasurer. 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
(b) Costs of mailing and publication in connection with property delivered to the administrator under this chapter;
(c) Reasonable service charges; and
(d) Expenses incurred in examining records of or collecting property from a putative holder or holder.
(2) In addition to any expenses in subsection (1) of this section, the administrator shall deduct the proportionate costs of advertisement and operations from the amount of any claim allowed in an amount greater than ten dollars ($10). The administrator shall deduct at least one dollar ($1).
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 47, effective July 14, 2018.