KRS 393A.320: Dormancy charge.
Where this section sits in the code
- KRS Chapter 393A
(1) A holder may deduct a dormancy charge from property required to be paid or
delivered to the administrator if:
(a) A valid contract between the holder and the apparent owner authorizes
imposition of the charge for the apparent owner's failure to claim the p roperty
within a specified time; and
(b) The holder regularly imposes the charge and regularly does not reverse or
otherwise cancel the charge.
(2) The amount of the deduction under subsection (1) of this section shall be limited to
an amount that shall no t be unconscionable considering all relevant factors,
including the marginal transactional costs incurred by the holder in maintaining the
apparent owner's property and any services received by the apparent owner.
Collected 2026-09-05T20:59:24Z. Source file · JSON