Kentucky Statutes 393A.380 – Disposition of property having no substantial value — Immunity from liability
Current as of: 2024 | Check for updates
|
Other versions
(1) If the administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property.
(2) In disposing of property under subsection (1) of this section, the administrator may deliver the property to the Kentucky Historical Society, or any other museum, historical society, or organization approved by the administrator, and on such terms as the administrator deems appropriate. Upon delivery of the property to a third party described in this subsection, the administrator shall no longer be responsible for the safekeeping of the property.
(3) An action or proceeding shall not be commenced against the state, an agency of the state, the administrator, another officer, employee, or agent of the state, or a holder for or because of an act of the administrator under this section, except for intentional misconduct or malfeasance.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 38, effective July 14, 2018.
(2) In disposing of property under subsection (1) of this section, the administrator may deliver the property to the Kentucky Historical Society, or any other museum, historical society, or organization approved by the administrator, and on such terms as the administrator deems appropriate. Upon delivery of the property to a third party described in this subsection, the administrator shall no longer be responsible for the safekeeping of the property.
Terms Used In Kentucky Statutes 393A.380
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- 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
- 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
(3) An action or proceeding shall not be commenced against the state, an agency of the state, the administrator, another officer, employee, or agent of the state, or a holder for or because of an act of the administrator under this section, except for intentional misconduct or malfeasance.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 38, effective July 14, 2018.