{"data":{"id":"us-ky/krs-393a.040","jurisdiction":"us-ky","citation":"KRS 393A.040","heading":"When property presumed abandoned.","body":"Subject to KRS 393A.120, the following property shall be presumed abandoned if it is\nunclaimed by the apparent owner during the period specified below:\n(1) A traveler's check, fifteen (15) years after issuance;\n(2) A money order, seven (7) years after issuance;\n(3) A state or municipal bond, bearer bond, or original -issue-discount bond, three (3)\nyears after the earliest of the date the bond matures or is called or the obligation to\npay the principal of the bond arises;\n(4) A debt of a business association, three (3) years after the obligation to pay arises;\n(5) A payroll card or demand, savings, or time deposit account, including a deposit that\nis automatically renewable, three (3) years after the maturity of the deposit, except a\ndeposit that is automatica lly renewable is deemed matured on its initial date of\nmaturity unless the apparent owner consented in a record on file with the holder to\nrenewal at or about the time of the renewal, except:\n(a) Property held in an interest-bearing, demand, savings, or time deposit account\nshall, from the time it is presumed abandoned under this chapter, be placed by\nthe holder in an interest-bearing account made assignable to the administrator;\n(b) The administrator may examine the records of the holder relevant to the\nestablishment and maintenance of an interest -bearing account in accordance\nwith this chapter;\n(c) Upon demand and proper proof by a person appearing entitled to payment of\nproperty described in this subsection, the holder may withdraw the property\nand any accrued interest for payment to the entitled person;\n(d) Property described in this subsection deposited and not claimed ten (10) years\nafter it is presumed abandoned, or upon actual abandonment, shall be paid to\nthe administrator upon whichever abandonment occurs first; and\n(e) The administrator shall not be re quired to credit interest on any property\ndescribed in this subsection after the property is received under paragraph (d)\nof this subsection;\n(6) Money or a credit owed to a customer as a result of a retail business transaction,\nother than in -store credit for returned merchandise, three (3) years after the\nobligation arose;\n(7) An amount owed by an insurance company on a life or endowment insurance policy\nor an annuity contract that has matured or terminated, three (3) years after the\nobligation to pay aros e under the terms of the policy or contract or, if a policy or\ncontract for which an amount is owed on proof of death has not matured by proof of\nthe death of the insured or annuitant, as follows:\n(a) With respect to an amount owed on a life or endowment i nsurance policy,\nthree (3) years after the earlier of the date:\n1. The insurance company has knowledge of the death of the insured; or\n2. The insured has attained, or would have attained if living, the limiting\nage under the mortality table on which the re serve for the policy is\nbased; and\n(b) With respect to an amount owed on an annuity contract, three (3) years after\nthe date the insurance company has knowledge of the death of the annuitant;\n(8) Property distributable by a business association in the cour se of dissolution, one (1)\nyear after the property becomes distributable;\n(9) Property held by a court, including property received as proceeds of a class action,\nmay be paid to the administrator one (1) year after the property becomes\ndistributable, but shall be paid to the administrator no later than five (5) years after\nthe property becomes distributable;\n(10) Property held by a government or governmental subdivision, agency, or\ninstrumentality, including municipal bond interest and unredeemed principal under\nthe administration of a paying agent or indenture trustee, one (1) year after the\nproperty becomes distributable;\n(11) Property payable or distributable in the course of a demutualization of an insurance\ncompany, three (3) years after the earlier of the last contact with the policyholder,\nor the date the property became payable or distributable;\n(12) Wages, commissions, bonuses, or reimbursements to which an employee is entitled,\nor other compensation for personal services, other than amounts held in a payroll\ncard, one (1) year after the amount becomes payable;\n(13) A deposit or refund owed to a subscriber by a utility, one (1) year after the deposit\nor refund becomes payable; and\n(14) Property not specified in KRS 393A.050, 393A.060, 393A.070, 393A.0 80,\n393A.090, or 393A.100, the earlier of three (3) years after the owner first has a\nright to demand the property or the obligation to pay or distribute the property\narises.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56644","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"a458a6546203b0667a9d29ebd520832f405b9c78ac9d8a75e0c5624705b3ce1a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393a.035","next":"us-ky/krs-393a.050"},"notice":"GroundRules: Original legal text. Not legal advice."}