Kentucky Statutes 393A.280 – Contents of notice by holder
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(1) Notice under KRS § 393A.270 shall contain a heading that reads substantially as follows: “Notice. The Commonwealth of Kentucky requires us to notify you that your property may be transferred to the custody of the Kentucky State Treasurer if you do not contact us before (insert date that is thirty (30) days after the date of this notice).”
(2) The notice under KRS § 393A.270 shall:
(a) Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice;
(b) State that the property shall be turned over to the administrator;
(c) State that after the property is turned over to the administrator, an apparent owner that seeks return of the property shall file a claim with the administrator;
(d) State that property that is not legal tender of the United States may be sold by the administrator; and
(e) Provide instructions that the apparent owner shall follow to prevent the holder from reporting and paying or delivering the property to the administrator.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 28, effective July 14, 2018.
(2) The notice under KRS § 393A.270 shall:
Terms Used In Kentucky Statutes 393A.280
- 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
- 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
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- 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
(a) Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice;
(b) State that the property shall be turned over to the administrator;
(c) State that after the property is turned over to the administrator, an apparent owner that seeks return of the property shall file a claim with the administrator;
(d) State that property that is not legal tender of the United States may be sold by the administrator; and
(e) Provide instructions that the apparent owner shall follow to prevent the holder from reporting and paying or delivering the property to the administrator.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 28, effective July 14, 2018.