KRS 393A.070: When custodial account for minor presumed abandoned.

(1) Subject to KRS 393A.120, property held in an account established under the

Uniform Transfers to Minors Act, KRS 385.012 to 385.242, shall be presumed

abandoned if it is unclaimed by or on behalf of the minor on whose behalf the

account was opened three (3) years after the later of:

(a) Except as provided in paragraph (b) of this subsection, the date a second

consecutive communication sent by the holder by first -class United States

mail to the custodian of the minor on whose behalf the account was opened is

returned undelivered to the holder by the United States Postal Service;

(b) If the second communication is sent later than thirty (30) days after the date

the first communication is returned undelivered, the date the first

communication was returned undelivered; or

(c) The date on which the custodian is required to transfer the property to the

minor or the minor's estate in accordance with the Uniform Gifts to Minors

Act or Uniform Transfers to Minors Act of the state in which the account was

opened.

(2) If the holder does not send communications to the custodian of the minor on whose

behalf an account described in subsection (1) of this section was opened by first -

class United States mail, the holder shall attempt to confirm the custodian's interest

in the property by sending the custodian an electronic-mail communication not later

than two (2) years after the custodian's last indication of interest in the property.

However, the holder promptly shall attempt to contact the custodian by first -class

United States mail if:

(a) The holder does not have information needed to send the custodian an

electronic-mail communication or the holder believes that the custodian's

electronic-mail address in the holder's records is not valid;

(b) The holder receives notificati on that the electronic -mail communication was

not received; or

(c) The custodian does not respond to the electronic -mail communication within

thirty (30) days after the communication was sent.

(3) If first-class United States mail sent under subsection (2) of this section is returned

undelivered to the holder by the United States Postal Service, the property shall be

presumed abandoned three (3) years after the later of:

(a) The date a second consecutive communication to contact the custodian by

first-class United States mail is returned to the holder undelivered by the

United States Postal Service; or

(b) The date established by subsection (1)(c) of this section.

(4) When the property in the account described in subsection (1)(c) of this section is

transferred to the minor on whose behalf an account was opened or to the minor's

estate, the property in the account shall no longer be subject to this section.