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2018 Kentucky Revised Statutes
CHAPTER 393A - REVISED UNIFORM UNCLAIMED PROPERTY ACT
.380 Disposition of property having no substantial value – Immunity from liability.

Universal Citation: KY Rev Stat § 393A.380 (2018)
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393A.380 Disposition of property having no substantial value – Immunity from liability. (1) (2) (3) If the administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the administrator may return the property to the holder or destroy or otherwise dispose of the property. In disposing of property under subsection (1) of this section, the administrator may deliver the property to the Kentucky Historical Society, or any other museum, historical society, or organization approved by the administrator, and on such terms as the administrator deems appropriate. Upon delivery of the property to a third party described in this subsection, the administrator shall no longer be responsible for the safekeeping of the property. An action or proceeding shall not be commenced against the state, an agency of the state, the administrator, another officer, employee, or agent of the state, or a holder for or because of an act of the administrator under this section, except for intentional misconduct or malfeasance. Effective: July 14, 2018 History: Created 2018 Ky. Acts ch. 163, sec. 38, effective July 14, 2018.
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