Kentucky Statutes 393A.180 – Holder domiciled in this state
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(1) Except as provided in subsection (2) of this section or KRS § 393A.160 or 393A.170, the administrator may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state or is this state or a governmental subdivision, agency, or instrumentality of this state, and:
(a) Another state or foreign country shall not be entitled to the property because there is no last-known address of the apparent owner or other person entitled to the property in the records of the holder; or
(b) The state or foreign country of the last-known address of the apparent owner or other person entitled to the property does not provide for custodial taking of the property.
(2) Property shall not be subject to the custody of the administrator under subsection (1) of this section if the property is specifically exempt from custodial taking under the law of this state or the state or foreign country of the last-known address of the apparent owner.
(3) If a holder’s state of domicile has changed since the time property was presumed abandoned, the holder’s state of domicile in this section shall be deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 18, effective July 14, 2018.
(a) Another state or foreign country shall not be entitled to the property because there is no last-known address of the apparent owner or other person entitled to the property in the records of the holder; or
Terms Used In Kentucky Statutes 393A.180
- 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
- Domicile: means :
(a) For a corporation, the state of its incorporation. See Kentucky Statutes 393A.010 - Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- 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
(b) The state or foreign country of the last-known address of the apparent owner or other person entitled to the property does not provide for custodial taking of the property.
(2) Property shall not be subject to the custody of the administrator under subsection (1) of this section if the property is specifically exempt from custodial taking under the law of this state or the state or foreign country of the last-known address of the apparent owner.
(3) If a holder’s state of domicile has changed since the time property was presumed abandoned, the holder’s state of domicile in this section shall be deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 18, effective July 14, 2018.