Kentucky Statutes 393A.270 – Notice to apparent owner by holder
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(1) Subject to subsection (2) of this section, the holder of property presumed abandoned shall send to the apparent owner notice by first-class United States mail that complies with KRS § 393A.280 in a format acceptable to the administrator not more than one hundred eighty (180) days nor less than sixty (60) days before filing the report under KRS § 393A.220 if:
(a) The holder has in its records an address for the apparent owner which the holder’s records do not disclose to be invalid and is sufficient to direct the delivery of first-class United States mail to the apparent owner; and
(b) The value of the property is fifty dollars ($50) or more.
(2) If an apparent owner has consented to receive electronic-mail delivery from the holder, the holder shall send the notice described in subsection (1) of this section both by first-class United States mail to the apparent owner’s last-known mailing address and by electronic mail, unless the holder believes that the apparent owner’s electronic-mail address is invalid.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 27, effective July 14, 2018.
(a) The holder has in its records an address for the apparent owner which the holder’s records do not disclose to be invalid and is sufficient to direct the delivery of first-class United States mail to the apparent owner; and
Terms Used In Kentucky Statutes 393A.270
- Administrator: means the Kentucky State Treasurer. See Kentucky Statutes 393A.010
- Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See Kentucky Statutes 393A.010
- Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. 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
(b) The value of the property is fifty dollars ($50) or more.
(2) If an apparent owner has consented to receive electronic-mail delivery from the holder, the holder shall send the notice described in subsection (1) of this section both by first-class United States mail to the apparent owner’s last-known mailing address and by electronic mail, unless the holder believes that the apparent owner’s electronic-mail address is invalid.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 27, effective July 14, 2018.