2015 Kentucky Revised Statutes CHAPTER 393 - ESCHEATS 393.280 Examination of records -- Promulgation of administrative regulations and rules -- Delegation of State Treasurer's authority.
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393.280 Examination of records -- Promulgation of administrative regulations and
rules -- Delegation of State Treasurer's authority.
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The department, through its employees or authorized representatives, may at
reasonable times and upon reasonable notice examine all relevant records of any
person except any banking organization or financial organization where there is
reason to believe that there has been or is a failure to report property that should be
reported under this chapter during the preceding reporting period. Records shall be
considered relevant to the examination of the preceding reporting period if they
document the period necessary, for that type of property, to establish presumed
abandonment. The department may avail itself of enforcement technologies and
programs designed to increase compliance among businesses with Kentucky's
unclaimed property law.
The Department of Financial Institutions may at reasonable times and upon
reasonable notice examine all relevant records of any banking organization or
financial organization if there is reason to believe that there has been or is a failure
to report property that should be reported under this chapter during the preceding
reporting period.
Documents and working papers obtained or compiled by the department or the
Department of Financial Institutions in the course of conducting an examination are
confidential and are not open records under KRS 61.870 to 61.884.
The State Treasurer may promulgate administrative regulations pursuant to KRS
Chapter 13A and any reasonable and necessary rules for the enforcement of this
chapter, and govern hearings held before him. He may delegate in writing to any
employee of the department authority to perform any of the duties imposed on him
by this chapter, except the promulgation of rules.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1922, effective July 15, 2010. -Amended 2005 Ky. Acts ch. 173, Pt. I, A. 16, sec. 2, effective March 20, 2005. -Amended 2003 Ky. Acts ch. 95, sec. 5, effective June 24, 2003. -- Amended 1998
Ky. Acts ch. 560, sec. 2, effective July 15, 1998. -- Amended 1994 Ky. Acts ch. 58,
sec. 19, effective March 10, 1994; and ch. 276, sec. 18, effective July 15, 1994. -Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat.
sec. 1622-1.
Legislative Research Commission Note (7/15/94). This section was amended by 1994
Ky. Acts chs. 58 and 276. Where these Acts are not in conflict, they have been
codified together. Where a conflict exists, Acts ch. 276, which was last enacted by
the General Assembly, prevails under KRS 446.250.
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