{"data":{"id":"us-ky/krs-393a.010","jurisdiction":"us-ky","citation":"KRS 393A.010","heading":"Definitions for chapter.","body":"As used in this chapter:\n(1) \"Administrator\" means the Kentucky State Treasurer;\n(2) \"Administrator's agent\":\n(a) Means a person with which the administrator contracts to conduct an\nexamination under KRS 393A.550 to 393A.650 on behalf of the\nadministrator; and\n(b) Includes an indepen dent contractor of the person and each individual\nparticipating in the examination on behalf of the person or contractor;\n(3) \"Apparent owner\" means a person whose name appears on the records of a holder as\nthe owner of property held, issued, or owing by the holder;\n(4) \"Business association\" means a corporation, joint stock company, investment\ncompany other than an investment company registered under 15 U.S.C. secs. 80a -1\nto 80a -64, as amended, partnership, unincorporated association, joint venture,\nlimited liability company, business trust, trust company, land bank, safe deposit\ncompany, safekeeping depository, financial organization, insurance company,\nfederally chartered entity, utility, sole proprietorship, or other business entity,\nwhether or not for profit;\n(5) \"Confidential information\" means records, reports, and information that are\nconfidential under KRS 393A.780;\n(6) \"Domicile\" means:\n(a) For a corporation, the state of its incorporation;\n(b) For a business association whose formation requires a filing with a state, other\nthan a corporation, the state of its filing;\n(c) For a federally chartered entity or an investment company registered under 15\nU.S.C. secs. 80a-1 to 80a-64, as amended, the state of its home office; and\n(d) For any other holder, the state of its principal place of business;\n(7) \"Electronic\" means relating to technology having electrical, digital, magnetic,\nwireless, optical, electromagnetic, or similar capabilities;\n(8) \"Electronic mail\" means a communication by electronic means which is\nautomatically retained and stored and may be readily accessed or retrieved;\n(9) \"Financial organization\" means a savings and loan association, building and loan\nassociation, savings bank,  industrial bank, bank, banking organization, or credit\nunion;\n(10) \"Game-related digital content\":\n(a) Means digital content that exists only in an electronic game or electronic -\ngame platform;\n(b) Includes:\n1. Game-play currency such as a virtual wallet, even if denominated in\nUnited States currency; and\n2. The following if for use or redemption only within the game or platform\nor another electronic game or electronic-game platform:\na. Points sometimes referred to as gems, tokens, gold, and similar\nnames; and\nb. Digital codes; and\n(c) Does not include an item that the issuer permits to be redeemed for use\noutside a game or platform:\n1. For money;\n2. For goods or services that have more than minimal value; or\n3. That otherwise monetizes for use outside a game or platform;\n(11) \"Gift card\":\n(a) Means a stored-value card:\n1. The value of which does not expire;\n2. That may be decreased in value only by redemption for merchandise,\ngoods, or services; and\n3. That, unless required by law, may not be redeemed for o r converted into\nmoney or otherwise monetized by the issuer; and\n(b) Includes a prepaid commercial mobile radio service, as defined in 47 C.F.R.\nsec. 20.3, as amended;\n(12) \"Holder\" means a person obligated to hold for the account of, or to deliver or pay to,\nthe owner, property subject to this chapter;\n(13) \"Insurance company\" means an association, corporation, or fraternal or mutual -\nbenefit organization, whether or not for profit, engaged in the business of providing\nlife endowments, annuities, or insurance, including accident, burial, casualty, credit-\nlife, contract -performance, dental, disability, fidelity, fire, health, hospitalization,\nillness, life, malpractice, marine, mortgage, surety, wage -protection, and worker -\ncompensation insurance;\n(14) \"Loyalty card\":\n(a) Means a record given without direct monetary consideration under an award,\nreward, benefit, loyalty, incentive, rebate, or promotional program, which may\nbe used or redeemed only to obtain goods or services or a discount on goods\nor services; and\n(b) Does not include a record that may be redeemed for money or otherwise\nmonetized by the issuer;\n(15) \"Mineral\" means gas, oil, coal, oil shale, other gaseous liquid or solid hydrocarbon,\ncement material, sand and gravel, road material, building ston e, chemical raw\nmaterial, gemstone, fissionable and nonfissionable ores, colloidal and other clay,\nsteam and other geothermal resources, and any other substance defined as a mineral\nby law of this state other than this chapter;\n(16) \"Mineral proceeds\":\n(a) Means an amount payable for extraction, production, or sale of minerals, or,\non the abandonment of the amount, an amount that becomes payable after\nabandonment; and\n(b) Includes an amount payable:\n1. For the acquisition and retention of a mineral lease, i ncluding a bonus,\nroyalty, compensatory royalty, shut -in royalty, minimum royalty, and\ndelay rental;\n2. For the extraction, production, or sale of minerals, including a net\nrevenue interest, royalty, overriding royalty, extraction payment, and\nproduction payment; and\n3. Under an agreement or option, including a joint -operating agreement,\nunit agreement, pooling agreement, and farm-out agreement;\n(17) \"Money order\":\n(a) Means a payment order for a specified amount of money; and\n(b) Includes an express money order and a personal money order on which the\nremitter is the purchaser;\n(18) \"Municipal bond\" means a bond or evidence of indebtedness issued by a\nmunicipality or other political subdivision of a state;\n(19) \"Net card value\" means the original purchase pr ice or original issued value of a\nstored-value card, plus amounts added to the original price or value, minus amounts\nused and any service charge, fee, or dormancy charge permitted by law;\n(20) \"Non-freely transferable security\":\n(a) Means a security that cannot be delivered to the administrator by the\nDepository Trust Clearing Corporation or similar custodian of securities\nproviding post -trade clearing and settlement services to financial markets or\ncannot be delivered because there is no agent to effect transfer; and\n(b) Includes a worthless security;\n(21) \"Owner\":\n(a) Means a person that has a legal, beneficial, or equitable interest in property\nsubject to this chapter or the person's legal representative when acting on\nbehalf of the owner; and\n(b) Includes:\n1. A depositor, for a deposit;\n2. A beneficiary, for a trust other than a deposit in trust;\n3. A creditor, claimant, or payee, for other property; and\n4. The lawful bearer of a record that may be used to obtain money, a\nreward, or a thing of value;\n(22) \"Payroll card\" means a record that evidences a payroll card account as defined in 12\nC.F.R. pt. 1005, as amended;\n(23) \"Person\" means an individual, estate, business association, public corporation,\ngovernment or governmental subdivision, agency, or ins trumentality or other legal\nentity;\n(24) \"Property\":\n(a) Means tangible property described in KRS 393A.080 or a fixed and certain\ninterest in intangible property held, issued, or owed in the course of a holder's\nbusiness or by a government, governmental su bdivision, agency, or\ninstrumentality;\n(b) Includes all income from or increments to the property;\n(c) Includes property referred to as or evidenced by:\n1. Money, virtual currency, interest, or a dividend, check, draft, deposit, or\npayroll card;\n2. A credit balance, customer's overpayment, stored -value card, security\ndeposit, refund, credit memorandum, unpaid wage, unused ticket for\nwhich the issuer has an obligation to provide a refund, mineral proceeds,\nor unidentified remittance;\n3. A security, except for:\na. A worthless security; or\nb. A security that is subject to a lien, legal hold, or restriction\nevidenced on the records of the holder or imposed by operation of\nlaw, if the lien, legal hold, or restriction restricts the holder's or\nowner's ability to receive, transfer, sell, or otherwise negotiate the\nsecurity;\n4. A bond, debenture, note, or other evidence of indebtedness;\n5. Money deposited to redeem a security, make a distribution, or pay a\ndividend;\n6. An amount due and payable under an annuit y contract or insurance\npolicy; and\n7. An amount distributable from a trust or custodial fund established under\na plan to provide health, welfare, pension, vacation, severance,\nretirement, death, stock purchase, profit -sharing, employee -savings,\nsupplemental-unemployment insurance, or a similar benefit; and\n(d) Does not include:\n1. Property held in a plan described in 26 U.S.C. sec. 529A, as amended;\n2. Game-related digital content;\n3. A loyalty card;\n4. An in-store credit for returned merchandise; or\n5. A gift card;\n(25) \"Putative holder\" means a person believed by the administrator to be a holder, until\nthe person pays or delivers to the administrator property subject to this chapter or\nthe administrator or a court makes a final determination that the person is or is not a\nholder;\n(26) \"Record\" means information that is inscribed on a tangible medium or that is stored\nin an electronic or other medium and is retrievable in perceivable form;\n(27) \"Security\" means:\n(a) A security as defined in KRS 355.8-102;\n(b) A security entitlement as defined in KRS 355.8 -102, including a customer\nsecurity account held by a registered broker -dealer, to the extent the financial\nassets held in the security account are not:\n1. Registered on the books of the issuer in the name o f the person for\nwhich the broker-dealer holds the assets;\n2. Payable to the order of the person; or\n3. Specifically indorsed to the person; and\n(c) An equity interest in a business association not included in paragraph (a) or\n(b) of this subsection;\n(28) \"Sign\" means, with present intent to authenticate or adopt a record:\n(a) To execute or adopt a tangible symbol; or\n(b) To attach to or logically associate with the record an electronic symbol, sound,\nor process;\n(29) \"State\" means a state of the United States, the District of Columbia, the\nCommonwealth of Puerto Rico, the United States Virgin Islands, or any territory or\ninsular possession subject to the jurisdiction of the United States;\n(30) \"Stored-value card\":\n(a) Means a record evidencing a promise made for consideration by the seller or\nissuer of the record that goods, services, or money will be provided to the\nowner of the record to the value or amount shown in the record;\n(b) Includes a:\n1. Record that contains or consists of a microprocessor chip, magnetic\nstrip, or other means for the storage of information, which is prefunded\nand whose value or amount is decreased on each use and increased by\npayment of additional consideration;\n2. Gift card; and\n3. Payroll card; and\n(c) Does not include a loyalty card or game-related digital content;\n(31) \"Utility\" means a person that owns or operates for public use a plant, equipment,\nreal property, franchise, or license for the following public services:\n(a) Transmission of communications or information;\n(b) Production, storage, transmission, sale, delivery, or furnishing of electricity,\nwater, steam, or gas; or\n(c) Provision of sewage or septic services, or trash, garbage, or recycling disposal;\n(32) \"Virtual currency\":\n(a) Means a digital representation of value used as a medium of exchange, unit of\naccount, or store of value, which does not have legal tender status recognized\nby the United States; and\n(b) Does not include:\n1. The software or protocols governing the transfer  of the digital\nrepresentation of value;\n2. Game-related digital content; or\n3. Loyalty card; and\n(33) \"Worthless security\" means a security whose cost of liquidation and delivery to the\nadministrator would exceed the value of the security on the date a re port is due\nunder this chapter.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48098","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"8b10629bf5372b750331fe070de705dabe05521ba1422945b10b562d1545c7e2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393.990","next":"us-ky/krs-393a.020"},"notice":"GroundRules: Original legal text. Not legal advice."}