2011 Kentucky Revised Statutes CHAPTER 41 DEPARTMENT OF THE TREASURY 41.360 Disposition of unclaimed balances of payroll deductions for war bond purchases.
KY Rev Stat § 41.360 (1996 through Reg Sess) What's This?
41.360 Disposition of unclaimed balances of payroll deductions for war bond
purchases.
(1)
(2)
Where any officer or employee of the state government or of any agency of the state
government has authorized the State Treasurer to deduct from his compensation as
such officer or employee a sum or sums for the purchase of United States Series E
savings bonds, and thereafter, for any cause, has departed from such office or
employment leaving unclaimed in the hands of the State Treasurer a sum arising
from such deduction not equal to the amount for which such a bond may be
purchased, the State Treasurer shall, within ninety (90) days after the date of the last
deduction, mail to such officer or employee, at his last-known address as shown on
the records of the Personnel Cabinet, a notice stating the sum held by the State
Treasurer for such officer or employee, and requesting that he make claim for the
same within six (6) months thereafter. A duplicate of such notice, addressed to the
officer or employee, shall at the same time be delivered to the state agency of which
the person was an officer or employee. If, at the expiration of six (6) months from
the date of mailing the letter, the officer or employee has not made claim for the
sum due him, the sum shall, as of July 1 following the expiration of such sixmonths' period, be presumed abandoned.
On or before September 1 of each year, the State Treasurer shall report to the
Department of Revenue, in duplicate, a list of the sums presumed to be abandoned
as of the preceding July 1, giving the name of the officer or employee and his lastknown address. The Department of Revenue shall cause the report to be posted and
published as provided in KRS 393.110. If, by November 15 following such posting
and publication, the sums involved have not been claimed, the State Treasurer shall
place the sums to the credit of the general fund in the State Treasury and shall report
that fact to the Department of Revenue. Thereafter such sums shall have the same
status as other property turned over to the Department of Revenue as provided in
KRS 393.110, and the rights of any person to make claim for the same shall rest
upon the same principles as the rights of other claimants of property presumed to be
abandoned under the provisions of KRS Chapter 393.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 85, sec. 47, effective June 20, 2005. -- Amended
1998 Ky. Acts ch. 154, sec. 61, effective July 15, 1998. -- Created 1946 Ky. Acts
ch. 3, sec. 1.
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