Kentucky Statutes 393A.690 – Judicial remedy
Current as of: 2024 | Check for updates
|
Other versions
(1) Not later than ninety (90) days after receiving notice of the administrator‘s determination under KRS § 393A.650, the putative holder may:
(a) File an action against the administrator in the appropriate court challenging the administrator’s determination of liability and seeking a declaration that the determination is unenforceable, in whole or in part; or
(b) Pay the amount or deliver the property determined by the administrator to be paid or delivered to the administrator and, not later than six (6) months after payment or delivery, file an action against the administrator in the appropriate court for a refund of all or part of the amount paid or return of all or part of the property delivered.
(2) If a putative holder pays or delivers property the administrator determined shall be paid or delivered to the administrator at any time after the putative holder files an action under subsection (1)(a) of this section, the court shall continue the action as if it had been filed originally as an action for a refund or return of property under subsection (1)(b) of this section.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 69, effective July 14, 2018.
(a) File an action against the administrator in the appropriate court challenging the administrator’s determination of liability and seeking a declaration that the determination is unenforceable, in whole or in part; or
Terms Used In Kentucky Statutes 393A.690
- 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
- Putative holder: means a person believed by the administrator to be a holder, until the person pays or delivers to the administrator property subject to this chapter or the administrator or a court makes a final determination that the person is or is not a holder. See Kentucky Statutes 393A.010
(b) Pay the amount or deliver the property determined by the administrator to be paid or delivered to the administrator and, not later than six (6) months after payment or delivery, file an action against the administrator in the appropriate court for a refund of all or part of the amount paid or return of all or part of the property delivered.
(2) If a putative holder pays or delivers property the administrator determined shall be paid or delivered to the administrator at any time after the putative holder files an action under subsection (1)(a) of this section, the court shall continue the action as if it had been filed originally as an action for a refund or return of property under subsection (1)(b) of this section.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 163, sec. 69, effective July 14, 2018.