{"data":{"id":"us-ky/krs-393a.370","jurisdiction":"us-ky","citation":"KRS 393A.370","heading":"Administrator's options as to custody.","body":"(1) The administrator may decline to take custody of property reported under KRS\n393A.220 if the administrator determines that:\n(a) The property has a value less than the estimated expenses of notice and sale of\nthe property; or\n(b) Taking custody of the property would be unlawful.\n(2) A holder may pay or deliver property to the administrator before the property shall\nbe presumed abandoned under this chapter if the holder:\n(a) Sends the apparent owner of the property notice required by KRS 393A.270\nand provides the administrator evidence of the holder's compliance with this\nparagraph;\n(b) Includes with the payment or delivery a report regarding the property\nconforming to KRS 393A.230; and\n(c) First obtains the administrator's consent in a record to accept paymen t or\ndelivery.\n(3) A holder's request for the administrator's consent under subsection (2)(c) of this\nsection shall be in a record. If the administrator fails to respond to the request not\nlater than thirty (30) days after receipt of the request, the admin istrator shall be\ndeemed to consent to the payment or delivery of the property and the payment or\ndelivery shall be considered to have been made in good faith.\n(4) On payment or delivery of property under subsection (2) of this section, the property\nshall be presumed abandoned.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48134","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:24Z","sha256":"6dc64336124c6e9b7574d78bc86800788d343caf8ededa3e3011a33b86a03a1b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393a.360","next":"us-ky/krs-393a.380"},"notice":"GroundRules: Original legal text. Not legal advice."}