2014 Kentucky Revised Statutes CHAPTER 341 - UNEMPLOYMENT COMPENSATION 341.810 Surrender of property upon which levy made -- Effect of surrender or failure to do so.
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341.810 Surrender of property upon which levy made -- Effect of surrender or
failure to do so.
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Any person in possession of or obligated with respect to property or rights to
property subject to levy upon which a levy has been made shall, upon demand
of the secretary or his delegate, surrender such property or rights or discharge
such obligation to the secretary or his delegate, except such part of the
property or rights as is, at the time of such demand, subject to an attachment
or execution under any judicial process.
Any person who fails or refuses to surrender any property or rights to property
subject to levy shall be liable in his own person and estate to the
Commonwealth in a sum equal to the value of the property or rights not so
surrendered, but not exceeding the amount of contributions, interest and
penalties for the collection of which such levy has been made, together with
costs and interest on such and at the rate of fifteen percent (15%) per annum
from the date of such levy. Any amount other than costs recovered under this
subsection shall be credited against the subject employer's liability for the
collection of which such levy was made.
Any person in possession of or obligated with respect to property or rights to
property subject to levy upon which a levy has been made who, upon demand
by the secretary or his delegate, surrenders such property or rights to property
or discharges such obligation to the secretary or his delegate shall be
discharged from any obligation or liability to the delinquent employer with
respect to such property or rights to property arising from such surrender or
payment.
Effective:July 15, 1986
History: Created 1986 Ky. Acts ch. 26, sec. 12, effective July 15, 1986.
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