{"data":{"id":"us-ky/krs-393a.330","jurisdiction":"us-ky","citation":"KRS 393A.330","heading":"Payment or delivery of property to administrator.","body":"(1) Except as otherwise provided in this section, on filing a report under KRS\n393A.220, the holder shall pay or deliver to the administrator the property described\nin the report.\n(2) If property in a report under KRS 393A.220 is an automatically renewable dep osit\nand a penalty or forfeiture in the payment of interest would result from paying the\ndeposit to the administrator at the time of the report, the date for payment of the\nproperty to the administrator is extended until a penalty or forfeiture no longer\nwould result from payment, if the holder informs the administrator of the extended\ndate.\n(3) Tangible property in a safe -deposit box shall not be delivered to the administrator\nuntil one hundred twenty (120) days after filing the report under KRS 393A.220.\n(4) If property reported to the administrator under KRS 393A.220 is a security, the\nadministrator may:\n(a) Make an endorsement, instruction, or entitlement order on behalf of the\napparent owner to invoke the duty of the issuer, its transfer agent, or the\nsecurities intermediary to transfer the security; or\n(b) Dispose of the security under KRS 393A.410.\n(5) If the holder of property reported to the administrator under KRS 393A.220 is the\nissuer of a certificated security, the administrator may obtain a repl acement\ncertificate in physical or book -entry form under KRS 355.8 -405. An indemnity\nbond shall not be required.\n(6) The administrator shall establish procedures for the registration, issuance, method\nof delivery, transfer, and maintenance of securities delivered to the administrator by\na holder.\n(7) An issuer, holder, and transfer agent or other person acting under this section under\ninstructions of and on behalf of the issuer or holder shall not be liable to the\napparent owner for, and shall be indemnifie d by the state against, a claim arising\nwith respect to property after the property has been delivered to the administrator.\n(8) A holder shall not be required to deliver to the administrator a security identified by\nthe holder as a non -freely transferable  security. If the administrator or holder\ndetermines that a security is no longer a non -freely transferable security, the holder\nshall deliver the security on the next regular date prescribed for delivery of\nsecurities under this chapter. The holder shall make a determination annually\nwhether a security identified in a report filed under KRS 393A.220 as a non -freely\ntransferable security is no longer a non-freely transferable security.\n(9) (a) If property reported to the administrator is virtual currency, t he holder shall\nliquidate the virtual currency and remit the proceeds to the administrator.\n(b) The liquidation shall occur anytime within ninety (90) days prior to the filing\nof the report under KRS 393A.220.\n(c) The owner shall not have recourse against the holder or the administrator to\nrecover any gain in value that occurs after the liquidation of the virtual\ncurrency under this subsection.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48965","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"3861a6f76e1db689346283b964e76e5ff5ed650c12625cc38576366f964677a6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393a.320","next":"us-ky/krs-393a.340"},"notice":"GroundRules: Original legal text. Not legal advice."}