{"data":{"id":"us-ky/krs-393a.070","jurisdiction":"us-ky","citation":"KRS 393A.070","heading":"When custodial account for minor presumed abandoned.","body":"(1) Subject to KRS 393A.120, property held in an account established under the\nUniform Transfers to Minors Act, KRS 385.012 to 385.242, shall be presumed\nabandoned if it is unclaimed by or on behalf of the minor on whose behalf the\naccount was opened three (3) years after the later of:\n(a) Except as provided in paragraph (b) of this subsection, the date a second\nconsecutive communication sent by the holder by first -class United States\nmail to the custodian of the minor on whose behalf the account was opened is\nreturned undelivered to the holder by the United States Postal Service;\n(b) If the second communication is sent later than thirty (30) days after the date\nthe first communication is returned undelivered, the date the first\ncommunication was returned undelivered; or\n(c) The date on which the custodian is required to transfer the property to the\nminor or the minor's estate in accordance with the Uniform Gifts to Minors\nAct or Uniform Transfers to Minors Act of the state in which the account was\nopened.\n(2) If the holder does not send communications to the custodian of the minor on whose\nbehalf an account described in subsection (1) of this section was opened by first -\nclass United States mail, the holder shall attempt to confirm the custodian's interest\nin the property by sending the custodian an electronic-mail communication not later\nthan two (2) years after the custodian's last indication of interest in the property.\nHowever, the holder promptly shall attempt to contact the custodian by first -class\nUnited States mail if:\n(a) The holder does not have information needed to send the custodian an\nelectronic-mail communication or the holder believes that the custodian's\nelectronic-mail address in the holder's records is not valid;\n(b) The holder receives notificati on that the electronic -mail communication was\nnot received; or\n(c) The custodian does not respond to the electronic -mail communication within\nthirty (30) days after the communication was sent.\n(3) If first-class United States mail sent under subsection (2)  of this section is returned\nundelivered to the holder by the United States Postal Service, the property shall be\npresumed abandoned three (3) years after the later of:\n(a) The date a second consecutive communication to contact the custodian by\nfirst-class United States mail is returned to the holder undelivered by the\nUnited States Postal Service; or\n(b) The date established by subsection (1)(c) of this section.\n(4) When the property in the account described in subsection (1)(c) of this section is\ntransferred to the minor on whose behalf an account was opened or to the minor's\nestate, the property in the account shall no longer be subject to this section.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48104","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"7db34ce6bfa3eacc9f69b63dc9a9ef9841c780e9f5a8b90676d40dc023e97dcb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393a.060","next":"us-ky/krs-393a.080"},"notice":"GroundRules: Original legal text. Not legal advice."}