{"data":{"id":"us-ky/krs-393a.530","jurisdiction":"us-ky","citation":"KRS 393A.530","heading":"Allowance of claim for property.","body":"(1) Not later than thirty (30) days after a claim is allowed under KRS 393A.520(2), the\nadministrator shall pay or deliver to the owner the property or pay to the owner the\nnet proceeds of a sale of the property. On request of the owner, the administrator\nmay sell or liquidate a security and pay the net proceeds to the owner, even if the\nsecurity had been held by the administrator for less than three (3) years or the\nadministrator has not complied with the notice requirements under KRS 393A.410.\n(2) Property held under this chapter by the administrator shall be subject to a claim for\nthe payment of an enforceable debt the owner owes in this state for:\n(a) Child-support arrearages, including child -support collection costs and child -\nsupport arrearages that are combined with maintenance;\n(b) A civil or criminal fine or penalty, court costs, a surcharge, or restitution\nimposed by a final order of an administrative agency or a final court\njudgment; or\n(c) State or local taxes, penalties, and interest that have been de termined to be\ndelinquent or as to which notice has been recorded with the county sheriff or\nlocal taking authority.\n(3) Before delivery or payment to an owner under subsection (1) of this section of\nproperty or payment to the owner of net proceeds of a sa le of the property, the\nadministrator first shall apply the property or net proceeds to a debt under\nsubsection (2) of this section the administrator determines is owed by the owner.\nThe administrator shall pay the amount to the appropriate state or local agency and\nnotify the owner of the payment.\n(4) The administrator may make periodic inquiries of state and local agencies in the\nabsence of a claim filed under KRS 393A.510 to determine whether an apparent\nowner included in the unclaimed-property records of this state has enforceable debts\ndescribed in subsection (2) of this section. The administrator first shall apply the\nproperty or net proceeds of a sale of property held by the administrator to a debt\nunder subsection (2) of this section of an apparent o wner which appears in the\nrecords of the administrator and deliver the amount to the appropriate state or local\nagency. The administrator shall notify the apparent owner of the payment.","path":["KRS Chapter 393A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48150","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:25Z","sha256":"cf5bec7ab0ecb98912c075f4edb56665fd4a78f8b775614670305c8f72ea815f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-393a.520","next":"us-ky/krs-393a.540"},"notice":"GroundRules: Original legal text. Not legal advice."}