20 KAR 1:030. Unclaimed property; escheating.
RELATES TO: KRS 393.090, 393.110
STATUTORY AUTHORITY: KRS 393.280
NECESSITY, FUNCTION, AND CONFORMITY: This
administrative regulation sets out the time when unclaimed property may be
claimed by the rightful owner prior to escheating to the department. It also
requires the holder to furnish the department a list setting out specific items
that have been returned to the rightful owner.
Section 1. If the rightful owner of unclaimed
property claims his property between July 1 and August 1, the holder shall not
report such property because the presumption of abandonment as of July 1 no
Section 2. If the rightful owner or legal claimant
of property reported as presumed abandoned establishes his claim between August
1 and January 1, the holder shall certify by sworn statement to the department
the specific items which have been returned to the rightful owner or legal
claimant and, therefore, are not subject to escheat. (21 Ky.R. 682; Am. 1280; eff.