393A.220 Report required by holder. (1) A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property. A holder shall not be required to file a report if the holder has no property that is presumed ab andoned. The administrator shall not require a holder to file a paper report. (2) A holder may contract with a third party to make the report required under subsection (1) of this section. (3) Whether or not a holder contracts with a third party under subs ection (2) of this section, the holder shall be responsible: (a) To the administrator for the complete, accurate, and timely reporting of property presumed abandoned; and (b) For paying or delivering to the administrator property described in the report. Effective: July 14, 2018 History: Created 2018 Ky. Acts ch. 163, sec. 22, effective July 14, 2018.
Kentucky Legal Code