Kentucky Statutes 393A.250 – Retention of records by holder
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A holder required to file a report under KRS § 393A.220 shall retain records for ten (10) years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period shall be provided by rule of the administrator. The holder may satisfy the requirement to retain records under this section through an agent. The records shall contain:
(1) The information required to be included in the report;
(2) The date, place, and nature of the circumstances that gave rise to the property right; (3) The amount or value of the property;
(4) The last address of the apparent owner, if known to the holder; and
(5) If the holder sells, issues, or provides to others for sale or issue in this state traveler’s checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 25, effective July 14, 2018.
(1) The information required to be included in the report;
Terms Used In Kentucky Statutes 393A.250
- 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
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. 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 date, place, and nature of the circumstances that gave rise to the property right; (3) The amount or value of the property;
(4) The last address of the apparent owner, if known to the holder; and
(5) If the holder sells, issues, or provides to others for sale or issue in this state traveler’s checks, money orders, or similar instruments, other than third-party bank checks, on which the holder is directly liable, a record of the instruments while they remain outstanding indicating the state and date of issue.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 25, effective July 14, 2018.