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393.068 Presumption of abandonment of personal property held by federal
government.
(1)
(2)
(3)
All tangible personal property or intangible personal property, including choses
in action in amounts certain, and all debts owed or entrusted funds or other
property held by the federal government or any federal agency, or any officer,
or appointee thereof, shall be presumed abandoned in this state if the last
known address of the owner of the property is in this state and the property has
remained unclaimed for three (3) years.
The federal government or any federal agency thereof which pays or delivers
abandoned property to the department under this section is relieved of all
liability to the extent of the value of the property so paid or delivered for any
claim which then exists or which thereafter may arise or be made in respect to
the property.
The federal government or any federal agency thereof may deduct from the
amounts to be paid or delivered to the department the proportionate share of
the actual and necessary costs of examining records and reporting such
information.
Effective:April 10, 2014
History: Amended 2014 Ky. Acts ch. 102, sec. 5, effective April 10, 2014. -Amended 1994 Ky. Acts ch. 58, sec. 7, effective March 10, 1994. -- Created
1960 Ky. Acts ch. 142, sec. 10, effective June 16, 1960.
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