{"data":{"id":"us-ky/krs-393.080","jurisdiction":"us-ky","citation":"KRS 393.080","heading":"Presumption of abandonment of security deposit or public utility refund.","body":"The following funds held or owing are presumed abandoned:\n(1) Any deposit of money, stocks, bonds, or other credits made to secure payment for\nservices rendered or to be rendered, or to guarantee the performance of services or\nduties, or to protect against  damage or harm, and the increments thereof, unless\nclaimed by the person entitled thereto within three (3) years after the occurrence of\nthe event that would obligate the holder or depository to return it or its equivalent.\n(2) Except as provided in KRS 2 72.291, any sum which a public utility has been\nordered to refund and which was received for utility services rendered in this state,\ntogether with any interest thereon, less any lawful deductions, that has remained\nunclaimed by the person appearing on the  records of the utility entitled thereto for\nmore than three (3) years after the date it became payable in accordance with the\nfinal determination or order providing for the refund.\n(3) If there remains a total of one million dollars ($1,000,000) or more i n unclaimed\nsums one (1) year after a public utility refund became payable in accordance with\nthe final determination or order providing for the refund, excepting sums that may\neventually be claimed pursuant to KRS 272.291, and less any lawful deductions, the\nFinance and Administration Cabinet shall enter into an agreement or agreements\nwith the public utility that will allow the public utility to pay the unclaimed sums,\nminus the exceptions noted above, to the Kentucky State Treasurer immediately if\nthe Attorney General determines by written opinion that a reasonable relationship\nexists between the source of and reason for the refund, and the workers'\ncompensation liability of a bankrupt employer who purportedly was self -insured,\neither individually or thro ugh a self -insurance group, under KRS Chapter 342.\nPayment of the unclaimed sums to the Kentucky State Treasurer shall constitute a\ncomplete release of the public utility from any further responsibility for the sums so\npaid, and from liability to any person who may have a claim to any of such sums.\n(4) The Kentucky Workers' Compensation Funding Commission shall preserve the\nrights of persons or ratepayers entitled to claim a refund under this section, and may\nutilize any funds available to the agency for the purpose of preserving those rights.","path":["KRS Chapter 393"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=36203","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"6f2b710626b3680599c431cbbdf74543a29f63b6d39874e3ec68a450056d8791","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393.072","next":"us-ky/krs-393.082"},"notice":"GroundRules: Original legal text. Not legal advice."}