KRS 41.360: Disposition of unclaimed balances of payroll deductions for war bond

purchases.

(1) Where any officer or employee of the state government or of any agency of the state

government has authorized the State Treasurer to deduct from his compensation as

such officer or employee a sum or sums for the purchase of United States Series E

savings bonds, and thereafter, for any cause, has departed from such office or

employment leaving unclaimed in the hands of the State Treasurer a sum arising

from such de duction not equal to the amount for which such a bond may be

purchased, the State Treasurer shall, within ninety (90) days after the date of the last

deduction, mail to such officer or employee, at his last -known address as shown on

the records of the Pers onnel Cabinet, a notice stating the sum held by the State

Treasurer for such officer or employee, and requesting that he make claim for the

same within six (6) months thereafter. A duplicate of such notice, addressed to the

officer or employee, shall at the same time be delivered to the state agency of which

the person was an officer or employee. If, at the expiration of six (6) months from

the date of mailing the letter, the officer or employee has not made claim for the

sum due him, the sum shall, as of J uly 1 following the expiration of such six -

months' period, be presumed abandoned.

(2) On or before September 1 of each year, the State Treasurer shall report to the

Department of Revenue, in duplicate, a list of the sums presumed to be abandoned

as of the preceding July 1, giving the name of the officer or employee and his last -

known address. The State Treasurer shall cause the report to be posted and

published as provided in KRS 393A.030. If, by November 15 following such

posting and publication, the sums involved have not been claimed, the State

Treasurer shall place the sums to the credit of the general fund in the State Treasury

and shall report that fact to the Department of Revenue. Thereafter such sums shall

have the same status as other property turn ed over to the Department of Revenue,

and the rights of any person to make claim for the same shall rest upon the same

principles as the rights of other claimants of property presumed to be abandoned

under the provisions of KRS Chapter 393.